Corporate ActionMay 20, 2026, 08:12 AM
AMASS Brands Group Completes Nasdaq Direct Listing
AI Summary
AMASS Brands Group announced its common stock began trading on the Nasdaq Capital Market under the symbol 'AMSS' following a direct listing that did not involve new common stock issuance. Concurrently, the company filed a Certificate of Designation for 35,000 shares of Series C Convertible Preferred Stock, which ranks senior to other capital stock, accrues a 2% quarterly preferred return, and is convertible into common stock with specific limitations. AMASS, a multi-category beverage platform, has generated over $80 million in cumulative revenue and expanded its distribution to over 40,000 points of sale.
Key Highlights
- AMASS Brands Group common stock began trading on Nasdaq Capital Market under 'AMSS'.
- The direct listing did not involve the issuance of new common stock.
- Company created 35,000 authorized shares of Series C Convertible Preferred Stock.
- Series C Preferred Stock accrues a preferred return of 2% per quarter, compounding daily.
- Preferred return increases to 18% per annum simple interest upon an Event of Default.
- Holders of Series C Preferred Stock cannot beneficially own over 9.99% of outstanding common stock upon conversion.
- Company has generated over $80 million in cumulative revenue.
- Distribution footprint expanded to more than 40,000 points of sale.
Price Impact
More from AMSS