BOCA RATON, Fla. , Aug. 05, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company") a leader in AI software development focusing on practical AI applications, today announced the execution of a Securities Purchase Agreement (the "SPA") and a Placement Agency Agreement marking a pivotal step in Vocodia's strategic growth initiatives and capital structure optimization. Under the terms of the SPA, the Company has entered into an agreement with certain accredited investors for the sale of (i) 2,800 shares of Series C Convertible Preferred Stock at a purchase price of $1,000 per share, totaling $2,800,000, and (ii) 20,000 shares of Series D Convertible Redeemable Stock at a purchase price of $0.0001 per share. This initial investment is part of a broader plan that includes provisions for additional investments, targeting a total capital raise of $3,000,000. The Company has also issued Certificates of Designation for both Series C and Series D Preferred Stocks, detailing their respective rights, preferences, and limitations. The Series C Preferred Stock is convertible into common stock under specific conditions, while the Series D Preferred Stock will be redeemed according to its terms. Series C Convertible Preferred Stock: Features include a dividend rate of 8% per annum, which dividends shall be paid by the Company in shares of common stock or in cash, at the option of the Company. A higher dividend ...