M2i Global creates new Series B preferred stock
M2i Global, Inc. adopted a new Series B Preferred Stock by filing a Certificate of Designation in Nevada.
Rhea-AI Filing Summary
M2i Global, Inc. adopted a new Series B Preferred Stock by filing a Certificate of Designation in Nevada. The company may issue up to 500 Series B shares, each with a stated value of $10,000 and convertible into common stock at an initial conversion price of $0.10 per share.
Holders receive their stated value plus any unpaid dividends before common shareholders in a liquidation. The Certificate also provides an alternative conversion price set at 95% of the lowest closing trading price during a defined measurement period, and includes a beneficial ownership cap of 4.99%, which holders can raise to 9.99% with prior notice.
Certain events, such as a qualified public offering or other specified equity financing, trigger mandatory conversion of the Series B shares. Except where law or the Certificate requires differently, Series B holders vote together with common shareholders on an as-converted basis, aligning their voting power with their potential common stock ownership.
Positive
- None.
Negative
- None.
8-K Event Classification
FAQ
What did M2i Global, Inc. (MTWO) change regarding its capital structure?
What are the key financial terms of M2i Global’s Series B Preferred Stock?
How does the Series B Preferred Stock affect M2i Global (MTWO) in a liquidation?
What ownership limits apply to conversions of M2i Global’s Series B Preferred Stock?
When can M2i Global’s Series B Preferred Stock be mandatorily converted?
Do Series B Preferred holders at M2i Global (MTWO) have voting rights?
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Filing Exhibits & Attachments
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