Thumzup Media Corporation has announced amendments to its bylaws, specifically concerning the designation of Series C Convertible Preferred Stock. The company has filed a Certificate of Designation for 200,000 shares of Series C, with a par value of $0.001 each. These shares come with a conversion price subject to equitable adjustment in events like stock splits. Additionally, there is a beneficial ownership limitation in place, allowing holders to convert Series C shares while maintaining ownership below 4.99% or 9.99%, as per their choice. The Series C shares have a stated value of $60.00 and are entitled to vote on an as-converted basis. They rank junior to Series A and B Convertible Preferred Stocks but senior to Common Stock and other future preferred stocks.
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