Corporate ActionMay 11, 2026, 05:32 PM
Genvor Designates Series C Preferred Stock with Conversion Rights
AI Summary
Genvor Inc. has designated Series C Preferred Stock, outlining its rights and preferences. Four shares were designated, each with a nominal liquidation preference, equal voting rights to common stockholders, and preferential conversion rights tied to future listing on a national securities exchange or a price-based formula. Subsequently, Genvor issued one share of this Series C Preferred Stock to Brio Advisory Group LLC as per an advisory agreement, relying on an exemption from registration.
Key Highlights
- Genvor Inc. filed a certificate of designation for Series C Preferred Stock on May 5, 2026.
- Four shares of Series C Preferred Stock were designated.
- Each Series C Preferred share has a nominal liquidation preference of $0.001 per share.
- Series C Preferred shares have one vote per share and participate equally with common stockholders.
- Preferential conversion rights allow conversion into common stock based on specific formulas.
- One share of Series C Preferred Stock was issued to Brio Advisory Group LLC on May 8, 2026.
- The issuance to Brio was an unregistered sale of equity under Section 4(a)(2) of the Securities Act.
Price Impact
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