TPT Global Tech Announces Major Preferred Stock Conversion
Company Announcements

TPT Global Tech Announces Major Preferred Stock Conversion

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.

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