IEG HOLDINGS CORPORATION (OTCMKTS:IEGH) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year
On June 20, 2017, IEG Holdings Corporation (the Company) filed
articles of amendment (the Amendment) to its amended and restated
articles of incorporation, as amended. The Amendment has the
effect of revising the terms of the Series H preferred stock to:
| (1) |
remove rights to receive dividends on the Companys Series H preferred stock; |
|
| (2) |
increase the conversion ratio of the Series H preferred stock from 0.2 shares of Common Stock per share of Series H preferred stock to 1 share of Common Stock per share of Series H preferred stock; |
|
| (3) |
remove the right of the Company to redeem or call the Companys Series H preferred stock; |
|
| (4) |
provide for automatic conversion of Series H preferred stock into shares of the Companys Common Stock on December 31, 2017; and |
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| (5) | remove the voting rights for Series H preferred stock. |
The Amendment was approved by the Companys board of directors on
June 19, 2017.
The foregoing description of the Amendment is qualified in its
entirety by reference to the Amendment, which is filed as Exhibit
3.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 3.1 |
Articles of Amendment of IEG Holdings Corporation, filed with the Secretary of State of the State of Florida on June 20, 2017. |
IEG Holdings Corp ExhibitEX-3.1 2 ex3-1.htm Exhibit 3.1 ARTICLES OF AMENDMENT TO THE ARTICLES OF INCORPORATION OF IEG HOLDINGS CORPORATION Pursuant to Section 607.1006 of the Florida Business Corporation Act,…To view the full exhibit click here About IEG HOLDINGS CORPORATION (OTCMKTS:IEGH)
IEG Holdings Corporation is a consumer finance company. The Company is engaged in the business of providing unsecured consumer loans ranging from $2,000 to $10,000. The Company operates in Consumer Loans segment. It offers loans online under the consumer brand Mr. Amazing Loans through its Website and online application portal at www.mramazingloans.com. It has obtained additional state lending licenses, and are licensed and originating direct consumer loans in the states of Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Missouri, Nevada, New Jersey, New Mexico, Oregon, Pennsylvania, Texas, Utah and Virginia. It has approximately 80 loans in default representing over 4.81% of the number of loans in its active portfolio. Its subsidiaries include Investment Evolution Corporation, which holds state licenses, leases, employee contracts, and other operating and administrative expenses, and IEC SPV, LLC, which is a bankruptcy remote special purpose vehicle.
