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eWellness plans up to $50 million $25-par 13% cumulative perpetual preferred stock
By James McCandless
San Antonio, Dec. 18 – eWellness Healthcare Corp. plans to price an offering of up to $50 million $25-par cumulative perpetual preferred stock with a dividend of 13%, according to a press release.
The company plans to allow common stockholders to exchange up to $1.2 million of common stock for preferred units.
The warrants are exercisable for five years.
The preferreds are redeemable after three years.
If the preferreds are not redeemed after four years, the company will pay a $3.25 per share yearly dividend.
The company plans to list the preferreds on the OTCQX.
eWellness is a Culver City, Calif.-based tele-medicine company.
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