Shareholders also authorized the election of five directors, a share-issuance approval tied to Silverback Capital, and auditor ratification for 2026.
May 2026 Notes and Series A terms
May 2026 Notes total $21.13 million principal; mandatory conversion would issue 21,133 Series A preferred shares at $1,000 stated value.
Series A terms include 10% dividend accrual starting six months post-issuance; conversions into common stock are subject to a 9.99% beneficial ownership cap.
Preferred stock authorization and board plans
DataMeds AI shareholder authorization clears an amendment to create 1,000,000 shares of blank-check preferred stock.
The board is slated to designate 25,000 shares as Series A Convertible Preferred Stock tied to May 2026 Notes.
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