Summary by Moomoo AI
Vocodia Holdings entered into a Securities Purchase Agreement on August 2, 2024, selling 2,800 shares of Series C Convertible Preferred Stock at $1,000 per share, raising $2.8M, and issuing 20,000 shares of Series D Redeemable Preferred Stock. The agreement includes provisions for an additional $200,000 investment. Alexander Capital L.P. will serve as placement agent, receiving 6% commission on referred investors and 4% on others.The Series C Preferred Stock offers an 8% annual dividend rate (increasing to 12% upon triggering events), voting rights on an as-converted basis, and conversion into common stock at an initial price of $0.15. The Series D Preferred Stock grants holders 10,000 votes per share specifically for the upcoming Reverse Stock Split proposal and will be redeemed upon stockholder approval or SPA termination.The company must file a registration statement within 60 days after the Second Closing for the resale of registrable securities. The transaction requires CBOE approval at an August 8, 2024 hearing for continued listing compliance, with the company committing to hold a stockholder meeting within 60 days for necessary approvals.
