IEG Holdings amends conversion ratio of series A, series H preferreds

Conversion features adjusted following approval of 1:100 reverse split

By Devika Patel

Knoxville, Tenn., Jan. 14 – IEG Holdings Corp. amended the conversion ratios of its series A convertible preferred stock and its series H convertible preferred stock on Jan. 8, according to an 8-K filed Thursday with the Securities and Exchange Commission. The rates were adjusted following the approval of a 1:100 reverse split of the company’s stock in June.

The series A preferreds are convertible into common stock at a rate of 32 common shares per preferred.

The series H preferreds will now be convertible into stock at a rate of one common share per preferred.

Previously, the series H preferreds were convertible at a rate of 0.2666 common shares per preferred.

The consumer finance company is based in Las Vegas.

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