Flyte Aviation sells $2.05 million of preferred stock, cuts conversion price to $1.00
On October 9, 2026, Flyte Aviation agreed to sell 2,050 shares of Series C-4 Convertible Preferred Stock to existing investors for $2.05 million, with closing expected on or about October 13, 2026. The same day, the company cut the conversion price of its Series C, Series D and Series J preferred stock from $2.30 to $1.00 per share (Series J was reduced to $1.00), which could increase the number of common shares issuable to those holders and may dilute existing shareholders.
Key points
- 2,050 Series C-4 preferred shares at a $1,000 stated value, for $2.05 million in gross proceeds; Dawson James Securities acted as placement agent
- Series C-4 shares convertible at $1.00 per share into up to 2,050,000 shares of common stock
- Conversion price cut from $2.30 to $1.00 for Series C-1, C-2, C-3, C-4 and Series D preferred stock, with the floor price waived
- Series J conversion price reduced to $1.00; the company effected a 1-for-10 reverse stock split on October 5, 2026
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 09, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.