Forum Markets drops Series B preferred designation
Forum Markets, Incorporated filed a Form 8-K to report a change in its capital structure.
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Form Type
8-K
Rhea-AI Filing Summary
Forum Markets, Incorporated filed a Form 8-K to report a change in its capital structure. On April 23, 2026, the company filed a Certificate of Elimination in Delaware, removing the previously authorized Series B Convertible Preferred Stock from its charter.
As of the filing date, no shares of this Series B preferred were issued or outstanding, and the company states that no shares will be issued under that prior designation. The Certificate of Elimination became effective at 12:01 a.m. on April 24, 2026, and the full text is included as an exhibit.
8-K Event Classification
3 items: 3.03, 5.03, 9.01
3 items
Item 3.03
Material Modification to Rights of Security Holders
Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Certificate of Elimination filing date: April 23, 2026
Effective time of elimination: 12:01 a.m. on April 24, 2026
Series B preferred shares outstanding: 0 shares
3 metrics
Certificate of Elimination filing date
April 23, 2026
Filed with Delaware Secretary of State
Effective time of elimination
12:01 a.m. on April 24, 2026
Series B Convertible Preferred Stock designation removed
Series B preferred shares outstanding
0 shares
As of the date of the Certificate of Elimination filing
Key Terms
Certificate of Elimination, Series B Convertible Preferred Stock, Certificate of Designations, Emerging growth company
4 terms
Certificate of Elimination regulatory
"filed a Certificate of Elimination (the “Certificate of Elimination”) with the Secretary"
An official document issued by a public health or regulatory authority stating that a particular disease, contaminant, or hazard has been removed or is no longer present at detectable levels within a defined area or system. For investors, it signals a reduced regulatory risk and potential reopening of economic activity—like a clearance certificate that lets a business or region return to normal operations, which can affect demand, costs, and market confidence.
Series B Convertible Preferred Stock financial
"elimination of the Designations, Preferences, Limitations and Relative Rights of Its Series B Convertible Preferred Stock"
Series B convertible preferred stock is a class of shares sold during a later-stage private financing that combines features of a loan and common stock: it usually pays priority dividends or has a priority claim if the company is sold, and it can be converted into common shares under predefined rules. Investors care because these shares affect ownership stakes and payout order—like having a reserved place in line and a ticket that can turn into regular ownership—so they influence potential returns and dilution for other shareholders.
Certificate of Designations regulatory
"subject to the Certificate of Designations, previously filed by the Company"
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Forum Markets (ETHZ) change about its Series B preferred stock?
Forum Markets eliminated the designation for its Series B Convertible Preferred Stock. The company filed a Certificate of Elimination in Delaware, removing the previously authorized series from its charter and confirming that no shares are or will be issued under that designation.
When did the Forum Markets (ETHZ) Certificate of Elimination become effective?
The Certificate of Elimination became effective at 12:01 a.m. on April 24, 2026. This effective time marks when the Series B Convertible Preferred Stock designation was formally removed from the company’s charter under Delaware law.
Why did Forum Markets (ETHZ) file this Form 8-K?
Forum Markets filed the Form 8-K to disclose the elimination of its Series B Convertible Preferred Stock designation. The filing reports the Delaware Certificate of Elimination and incorporates its terms, reflecting an update to the company’s authorized capital structure.
Where can investors find the full Certificate of Elimination for Forum Markets (ETHZ)?
The full Certificate of Elimination is attached as Exhibit 3.1. The Form 8-K explains that this exhibit contains the complete text filed with the Delaware Secretary of State on April 23, 2026, and is incorporated by reference.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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