Helio Corporation entered into a Securities Purchase Agreement on March 5, 2026, selling 1,000 shares of Series B Convertible Preferred Stock to an investor for $931,500. The Board approved the designation of these shares, which are convertible into Common Stock at an initial conversion price of $931.50 per share, subject to a 4.99% beneficial ownership limitation.
Key takeaways
Sold 1,000 shares of Series B Convertible Preferred Stock for $931,500 aggregate purchase price
Each Series B share has stated value of $931.50 and par value of $0.001
Initial Series B Conversion Price of $931.50, subject to adjustment
4.99% beneficial ownership limitation on conversions
No cash dividends; redeemable by Company at stated value
Sale exempt under Section 4(a)(2) and Rule 506(b) of Securities Act