Caliber announces sale of $15.9M perpetual convertible preferred equity

Caliber closed a securities purchase agreement with an institutional investor for the sale of $15.9M of perpetual convertible preferred equity and, separately, has established and activated an At-The-Market equity program. Under the preferred investment, Caliber issued 15,868 shares of Series B Preferred Stock at a purchase price of $1,000 per share, resulting in gross proceeds of $15,868,000. The Series B Preferred Stock is convertible, at the holder’s option, into Caliber common shares at $250 per share. The security carries no voting rights, pays no dividends or interest, and is ranked senior to Caliber’s Class A and Class B common stock, but junior to the Company’s Series A and Series AA Preferred Stock. The Company also announced that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission to activate an ATM program further to which sales are to be made further to the Company’s existing $50M shelf registration statement. At the outset, the Company has approximately $10.3M of availability under the program. The ATM will provide Caliber with the ability to issue and sell shares of common stock from time to time, at prevailing market prices, in order to opportunistically raise capital to support its business initiatives, including the continued accumulation of Chainlink tokens under its Digital Asset Treasury strategy. Lafferty & Co. is serving as lead sales agent for the ATM program, with Benchmark Company acting as co-manager.