Cycurion, Inc. has entered into agreements with two holders of its Series H Convertible Preferred Stock to induce the exchange of all outstanding shares for the company's common stock. This strategic move aims to simplify Cycurion's capital structure by cancelling the Series H preferred shares and extinguishing all associated accrued dividend obligations.
Key Details
- Agreement Parties: The agreements, dated October 29, 2026, are with Obsidian Associates, LLC (holding 618.75 Series H shares) and M2B Funding Corp. (holding 952.70 Series H shares).
- Exchange Terms: The holders have a limited-time option to exchange all their Series H Preferred Stock, plus accrued dividends, for common stock at a fixed price of $2.70 per share.
- Post-Exchange Status: Upon a successful exchange, the Series H Preferred Stock will be cancelled and retired. The transaction includes a 4.99% beneficial ownership limitation and a daily resale volume restriction of 5% of the average trading volume.