Corporate ActionJul 1, 2026, 04:14 PM
QumulusAI Details $1.17M Offering Costs, Extensive Past Equity Sales
AI Summary
QumulusAI, Inc. filed an S-1/A detailing estimated expenses for its common stock issuance, totaling $1,172,567, which includes SEC registration fees, Nasdaq listing fees, and significant legal and accounting costs. The filing also provided an extensive overview of recent unregistered securities sales over the past three years. These activities encompassed the issuance of over 1 million stock options, 675,182 warrants, and private placements of Series D Preferred Stock. Key corporate actions included the acquisition of TCM for $39.35 million in equity and the subsequent conversion of all preferred stock into 11.79 million common shares.
Key Highlights
- Estimated expenses for common stock issuance total $1,172,567, including $170,567 for SEC fees and $800,000 for legal fees.
- Issued 582,010 incentive stock options and 476,897 nonqualified stock options from March 2023 to March 2026.
- Issued warrants to purchase 675,182 common shares for various considerations, including private placements and services.
- Issued 9,103,000 shares of Series D Preferred Stock at $1.00 per share in private placements from November 2023 to January 2025.
- Acquired TCM in April 2025, issuing 2,574,718 common shares and 1,432,182 Series D Preferred Stock, valued at $39,350,572.
- Converted all outstanding preferred stock into 11,790,879 common shares in September 2025.
- Issued 2,661,142 common shares at $10.80 per share in a private placement from July 2025 to March 2026.
- Issued 156,768 common shares at $23.15 per share in a private placement on May 29, 2026.
Price Impact
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