Bonk redeems 26,667 Series A preferred shares for USD 4 million - BNKK News | RalliesBonk redeems 26,667 Series A preferred shares for USD 4 million
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BNKK• Redemption agreement with Core4 Capital
- Bonk agreed to redeem 26,667 Series A Preferred shares from Core4 Capital for USD 4 million under a September 4, 2026 agreement.
- The redeemed shares will be retired and returned to unissued status, cutting Core4’s Series A holding to 73,333 shares.
- Core4 provided an irrevocable waiver and standstill on all anti-dilution protections tied to its Series A Preferred shares.
- In a merger, Core4’s remaining 73,333 Preferred shares would convert into 1,516,873 common shares.
- Core4 granted a general release of claims against Bonk related to its investment in the company.
