Data I/O terminated its outstanding convertible debenture after shareholders approved the potential issuance tied to the instrument. On July 8, 2026, the note automatically converted into 6,841.33 shares of Series B Convertible Preferred Stock, covering $6,825,400 of principal plus accrued interest, held by Lytton-Kambara Foundation and Alice W. Lytton Family. The conversion ended obligations under the note without exit fees. The company expects the move to simplify its capital structure.
Agreement details:
- Agreement terminated: Convertible debenture
- Counterparty: Lytton-Kambara Foundation; Alice W. Lytton Family
- Termination date: Jul 08 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Automatic conversion to preferred stock after shareholder approval
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.