FDCTech issued 118,592,200 common shares on July 13, 2026, through the conversion of all 2,371,844 Series B Convertible Preferred shares.
The company said there were no cash proceeds from the issuance, which was completed in an unregistered transaction under Section 4(a)(2) of the Securities Act.
The board set the conversion ratio at 50 common shares per Series B share following a reverse stock split, and the Series B class has now been eliminated.
Ownership and share count after conversion
Director Gope S. Kundnani received 99,592,200 common shares through direct holdings and an affiliated entity, increasing related-party ownership concentration.
Following the conversion, FDCTech said common shares outstanding totaled 122,823,068.
FDCT•
