Nov. 27 at 2:16 PM
$INQR InnovaQor, Inc. (INQR) authorizes two new series of preferred stock, Series E and Series F, for potential exchange offer to common shareholders. The Series E Mandatory Convertible Preferred Stock has a mandatory conversion date of December 31, 2026, and the Series F Mandatory Convertible Preferred Stock has a mandatory conversion date of December 31, 2027. The stated value of each series of preferred stock initially is
$100, increasing by
$20 upon each anniversary of issuance. The exchange offer is being considered as an alternative to completing a reverse split of common stock to attract new investors. The terms and timing of the exchange offer are subject to final approval by the Board of Directors and market conditions.
