Mar. 14 at 12:26 AM
$MEHA The company restructured its preferred equity and added new secured debt by exchanging all Series A and Series B Convertible Preferred Stock for a package valued at
$8,378,000
Exchange Consideration Package: Investors received :

$6,032,160 in stated value of new Series C Convertible Preferred Stock

$900,000 in cash

$837,800 principal amount of senior secured convertible notes
 5,190,171 shares of common stock
Series C Preferred Terms: The new Series C Preferred has a
$1,000 stated value and is convertible into common stock at three fixed conversion prices: half at
$0.30 per share, a quarter at
$0.35, and a quarter at
$0.41 1 ↗ (https://www.stocktitan.net/sec-filings/MEHA/8-k-functional-brands-inc-reports-material-event-f5d3b4f31896.html).