SURNA INC. (OTCMKTS:SRNA) Files An 8-K Other Events
Item 8.01 Other Events.
On December 18, 2018, Surna Inc. (the “Company”) issued 35,190 shares of common stock to Stephen B. Keen and Brandy M. Keen in connection with the Company’s exercise of an option under a Preferred Stock Option Agreement dated May 29, 2018 (the “Option Agreement”). to the exercise of this option and the closing of the transactions thereunder on December 18, 2018, the Company acquired all 35,189,669 shares of preferred stock owned by the Keens (the “Preferred Shares”). The execution of the Option Agreement by and among the Company and the Keens was previously disclosed in a Current Report filed with the U.S. Securities and Exchange Commission on May 31, 2018.
The shares of common stock issued to the Keens upon exercise of this option were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and the certificates representing such shares of common stock will contain the restrictive legend under the Securities Act.
Immediately following the acquisition of the Preferred Shares, the Company cancelled the Preferred Shares. After the cancellation, the Company has 42,030,331 shares of preferred stock outstanding.
About SURNA INC. (OTCMKTS:SRNA)
Surna Inc. develops, designs and distributes cultivation technologies for controlled environment agriculture (CEA). The Company’s segment is designing, manufacturing, and distributing indoor climate control systems, including but not limited to chillers, lights, reflectors, and irrigation systems, for use in conjunction with the state-regulated cannabis and CEA industry. The Company’s technologies include a line of optimized lighting, environmental control, air sanitation and cultivation facilities. The Company offers full mechanical, electrical, and plumbing (MEP) services, including designing and engineering commercial scale thermodynamic systems specific to indoor grow facility conditions. The Company’s products include Surna Chillers, Surna Reflectors, Hybrid Building and Air Sanitation. Its customers include state-regulated cannabis cultivation facilities, as well as traditional indoor agricultural facilities, including organic herb and vegetable producers.