AgEagle Aerial Systems Inc (UAVS) has released an update to notify the public and investors about an entry into a material definitive agreement.
AgEagle Aerial Systems Inc., in a series of financial maneuvers with investor Alpha Capital Anstalt, has modified agreements related to its Series F Convertible Preferred Stock and associated warrants, allowing Alpha to invest additional funds with reduced minimum subscription tranches. They have also exchanged an original promissory note for a convertible note that, if fully converted, would exceed 19.99% of AgEagle’s Common Stock, pending shareholder approval. These adjustments and exchanges are part of the company’s strategic financial restructuring, now greenlit by the company’s Board of Directors and Audit Committee, and await the fulfillment of closing conditions, including NYSE American authorization.
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For a comprehensive understanding of the announcement, you can read the full document here.
