BlockBeats News, September 17th. Nasdaq-listed company Caliber announced recently that it has reached a securities purchase agreement with institutional investors, successfully selling $15.9 million of perpetual convertible preferred stock and has initiated an At-The-Market (ATM) Equity Offering Program. Under the Preferred Investment Agreement, Caliber issued 15,868 shares of Series B Preferred Stock at a purchase price of $1,000 per share, raising approximately $15.868 million. The Series B Preferred Stock is convertible into Caliber common stock at the option of the holder at a price of $250 per share, carries no voting rights, does not pay dividends or interest, and ranks senior to Caliber’s Class A and Class B common stock but junior to the company’s Series A and Series AA Preferred Stock.
In addition, Caliber has filed a supplement to its prospectus with the U.S. Securities and Exchange Commission (SEC) to activate the ATM program, which will be based on the company’s existing $50 million shelf registration. At the initial stage, the company has approximately $10.3 million available funds under this program. The ATM will enable Caliber to issue and sell common stock on the market at prevailing prices in a timely manner to opportunistically raise funds to support its business plans, including continuing to accumulate Chainlink (LINK) tokens under its Digital Asset Treasury (DAT) strategy.
