Replies to post #1859 on AB International Group Corp (ABQQ)

[Mazuur]

But how many shares of common stock is each c share worth when exercised?

[Mazuur]

From the filing

“On February 22, 2021, AB International Group Corp. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”), whereby Investor purchased from the Company one hundred and nineteen thousand and twenty five (119,025) shares of Series C Convertible Preferred Stock of the Company (the “Series C Preferred Stock”) for a purchase price of $103,500 (the “Purchase Price”).

The closing occurred on February 26, 2021. After payment of transaction-related expenses, net proceeds to the Company from the sale and issuance of the Series C Preferred Stock totaled $92,000. The Company intends to use the proceeds from the Preferred Stock for general working capital purposes.

Pursuant to the terms of the Purchase Agreement, the Company shall reserve 5,010,260 shares of its authorized and unissued common stock, par value $0.001 per share (the “Common Stock”), free from preemptive rights, to provide for the issuance of Common Stock upon the full conversion of the Series C Preferred Stock held by Investor (the “Reserved Amount”).”

There were 119,025 c shares issued. The company has to reserve 5,010,260 common shares so each c shares is worth ~42 common shares. When c shares are exercised the company will issue an additional 5 million shares to the OS.