09/06/2024 | Press release | Distributed by Public on 09/06/2024 06:46
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On August 28, 2024, the Company's Board of Directors authorized an amendment to the Company's certificate of incorporation to amend and restate its Certificate of Designation of Series I 8% Redeemable Preferred Stock ("Amended and Restated Series I Certificate of Designation") and authorized an amendment to the Company's certificate of incorporation to amend and restate its Series J 8% Voting, Participating, Redeemable Preferred Stock ("Amended and Restated Series J Certificate of Designation"), both subject to the consent of a majority of the holders prior to effecting such amendments, consenting separately, of the holders of the Series I Preferred Stock and Series J Preferred Stock, respectively, which consents were received on August 28, 2024. On August 30, 2024, the Company filed both the Amended and Restated Series I Certificate of Designation and the Amended and Restated Series J Certificate of Designation with the Secretary of State of the State of Delaware.
The Amended and Restated Series I Certificate of Designation sets forth the preferences, rights and limitations of the Series I Preferred Stock, a summary of which is as follows:
Number of Shares: The number of shares designated as Series I Preferred Stock is 5,500 (which is not subject to increase without the written consent of a majority of the holders (each a "Holder") of the Series I Preferred Stock or as otherwise set forth in the Certificate of Designation).
Par value: The par value of each share of Series I Preferred Stock is $0.001.
Stated Value: The initial Stated Value of each share of Series I Preferred Stock is $100.00.