DealsJun 1, 2026, 04:15 PM
CitroTech Inc. Reacquires Series A Preferred Stock, Issues Series C
AI Summary
CitroTech Inc. has entered into Stock Exchange and Stockholders Agreements to reacquire all outstanding Series A Preferred Stock. In exchange, the company issued Series C Convertible Preferred Stock to BoltRock Holdings, LLC and will issue additional shares to TC Special Investments LLC in 18 months, unless a change of control event occurs. These agreements eliminate all Series A Preferred Stock and grant certain rights to the holders of Series C Preferred Stock.
Key Highlights
- CitroTech Inc. reacquired 1,666,667 shares of Series A Preferred Stock.
- CitroTech Inc. issued 103,558 shares of Series C Convertible Preferred Stock to BoltRock Holdings, LLC.
- CitroTech Inc. agreed to issue 467,012 shares of Series C Convertible Preferred Stock to TC Special Investments LLC.
- No shares of Series A Preferred Stock remain outstanding after the exchange agreements.
- The exchange agreements provide holders with certain board designation or observer rights while they remain 10% holders.
- The exchange agreements provide registration rights with respect to the Series C Preferred Stock.
- BoltRock Holdings, LLC received certain limited consent rights for a period following closing.
Price Impact
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