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Premier Air Charter Holdings Inc. entered a Conversion Agreement with Innoworks Employment Services to exchange $6,419,269.43 in debt, including accrued interest owed by its subsidiary, for 100,000 shares of Series A Preferred Stock. The debt consolidated notes from February 2, 2024 and August 1, 2024, plus additional amounts as of March 19, 2025.
The company designated 100,000 shares as Series A Preferred on August 6, 2025. On October 21, 2025, it amended the Series A conversion price from $0.04 per share to $0.25 per share, as approved by the board and requisite stockholders, reflecting a mutual aim to align terms with the company’s position and reduce potential dilution upon conversion.