Leafbuyer to merge with RagingBull; 1-for-156 split, 15M shares
Leafbuyer Technologies (LBUY) signed an Agreement and Plan of Merger to combine with RagingBull.com, LLC via a subsidiary merger, with RagingBull surviving.
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Rhea-AI Filing Summary
Leafbuyer Technologies (LBUY) signed an Agreement and Plan of Merger to combine with RagingBull.com, LLC via a subsidiary merger, with RagingBull surviving. The deal is part of a broader reorganization approved by a majority written consent and the board, and will proceed after mailing a Schedule 14C information statement and completion of required review and notice periods.
The plan includes a 1‑for‑156 reverse stock split, a name change to RagingBull.com, Inc., and the issuance of 15,000,000 shares of common stock to RagingBull holders immediately following the reverse split. The Company will spin off LB Media Group LLC to current management or a new entity that will assume SBA debt, with spinoff proceeds used to pay down approximately $750,000 owed to senior lenders. Holders of Series A Super Voting Preferred will sell all Series A shares to a RagingBull holder for $1,000, and existing notes held by that investor will be consolidated into a new convertible promissory note. RagingBull’s current managers and officers will become the Company’s board and officers following effectiveness.
Insights
Transformative reverse merger with major recapitalization steps.
The company plans a reverse merger with RagingBull.com, LLC alongside a capital restructure: a 1-for-156 reverse split and an immediate 15,000,000-share issuance to RagingBull holders. These steps realign control and ownership while shifting the operating focus to RagingBull.
The reorganization includes a spinoff of LB Media Group LLC (with SBA debt assumed there) and applying spinoff proceeds to pay down about $750,000 to senior lenders. A $1,000 purchase of the Series A Super Voting Preferred and a debt consolidation into a convertible note further standardize the capital stack.
Completion depends on the Schedule 14C process and required regulatory/notice periods. Actual ownership outcomes follow the reverse split and new issuance; subsequent filings may detail effectiveness dates and any additional terms.
8-K Event Classification
FAQ
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