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TPT Global Tech (TPTW) has provided an announcement.
The Company is set to issue over 2.8 billion shares of Common Stock following the request from holders to convert their Series D and Series E Preferred Stock. These conversions come with a series of stipulations such as 6% cumulative annual dividends at the Board’s discretion, a conversion option after 12 months at 75% of the average market price, and automatic conversion upon national exchange listing approval. Additionally, the company outlined liquidation rights and conditions for redeeming shares within the first year. Post-conversion, the outstanding shares will dramatically increase, with the newly issued Common Stock exempt from registration under the 1933 Act.
See more data about TPTW stock on TipRanks’ Stock Analysis page.