Wednesday, July 15, 2020 3:22:37 PM
Jul. 15, 2020 3:19 PM ET|About: ImageWare Systems, Inc. (IWSY)|By: Khyathi Dalal, SA News Editor
ImageWare Systems (OTCQB:IWSY +2.6%) entered into an agreement with holders of over 90% of its Series A convertible preferred stock to restructure Series A preferred held by such holders.
This will lead to dividend waiver to the holders executing the agreement due for the quarters ending March 31 and June 30, 2020, and the remainder of FY20, based on stock performance.
Under the restructuring terms, one-half of the Series A preferred holders who executed agreements will be exchanged for an equivalent number of newly created Series A-1 Convertible Preferred Stock which would be further convertible into company common stock at $0.65/share.
Through this restructuring, ImageWare intends to finance its working capital requirements through the issuance of a senior security.
Transforming Alzheimer's Treatment: Innovative Combinations to Boost Cognition • PFE • Oct 2, 2024 9:00 AM
Unitronix Corp Unveils Cryptocurrency Investment Portfolio Strategy • UTRX • Oct 2, 2024 8:40 AM
Integrated Ventures, Inc Reports Total 2024 Revenues Of $5,863,935 vs $3,862,849 for 2023. • INTV • Oct 1, 2024 9:00 AM
Nightfood Signs Letter of Intent to Acquire Los Angeles Cooking School, Integrating Automation and Robotics with World-Class Culinary Training • NGTF • Oct 1, 2024 8:30 AM
ZenaTech, Inc. (NASDAQ: ZENA) To Commence Trading Today • COOP • Oct 1, 2024 7:00 AM
Element79 Gold Corp secures loi for launching tailings reprocessing business in Arequipa, Peru • ELMGF • Oct 1, 2024 6:38 AM