Corporate ActionMay 12, 2026, 08:02 AM

PicoCELA to Issue 4M Class A Preferred Shares; Elects 2 Directors

AI Summary

PicoCELA Inc. announced an Extraordinary Shareholders' Meeting on April 30, 2026, to vote on several key proposals. These include amending the Articles of Incorporation to increase authorized shares and establish Class A Preferred Shares, and the subsequent issuance of 4,000,000 Class A Preferred Shares at $1.25 each to About Investment Pte. Ltd. Additionally, shareholders will vote on the election of two new independent directors, Lim Kien Leong and Jong Han Rey Foo, aimed at strengthening the company's management supervisory function.

Key Highlights

Extraordinary Shareholders' Meeting scheduled for April 30, 2026, at 10:00 a.m.
Proposal 1: Amend Articles of Incorporation to increase total authorized shares from 16,615,220 to 38,455,220.
Proposal 1: Establish 5,000,000 Class A Preferred Shares.
Proposal 2: Issue 4,000,000 Class A Preferred Shares via third-party allotment to About Investment Pte. Ltd.
Proposal 2: Shares to be issued at $1.25 per share, with payment period from May 1 to May 15, 2026.
Proposal 3: Elect two independent directors, Lim Kien Leong and Jong Han Rey Foo, to reinforce management oversight.
Class A Preferred Shares convert to 5 common shares, or 10 if common stock price falls to $0.50 or less for 20 days.

View SEC Filing

PCLA

Building Products

PicoCELA Inc.

Price Impact