Caliber sells $15.9 million convertible preferred shares and launches ATM program to increase its holdings of LINK tokens

According to Foresight News, Nasdaq listed company Caliber announced that it had recently reached a securities purchase agreement with institutional investors, successfully selling $15.9 million in permanent convertible preferred shares and launching an At-The-Market (ATM) equity plan. Under the priority investment agreement, Caliber issued 15,868 Series B preferred shares with a purchase price of $1,000 per share, and received a total of approximately $15.868 million. Series B preferred shares can be converted to Caliber common stock at the rate of $250 per share at the holder's choice, the securities do not have voting rights, pay dividends or interest, and are ranked better than Caliber's Class A and Class B common stock but lower than the company's Series A and Series A preferred shares. Additionally, Caliber has filed a supplemental prospectus with the Securities and Exchange Commission (SEC) to activate the ATM program, which will be sold based on the company's existing $50 million shelf registration statement. In the initial stages, the company has approximately $10.3 million in funds available under the program. ATM will enable Caliber to issue and sell common stock at market prices in a timely manner in order to raise funds opportunistically and support its business plans, including the continued accumulation of Chainlink (LINK) tokens under its Digital Asset Treasury (DAT) strategy.