San Antonio-based telecommunications company, Wytec International Inc. (OTCQB:WYTC), has amended an exchange agreement with its CEO, William H. Gray, to adjust the closing date for its upcoming initial public offering (IPO). The amendment, filed on August 1, 2024, changes the closing date from the IPO's effective date on NASDAQ Capital Markets to the effective date on a public trading market.
The original exchange agreement, dated October 6, 2022, and its first amendment on November 15, 2022, were modified on Monday, July 30, 2024. Wytec, which operates under the telegraph and other message communications industry, is preparing for the public offering of its common stock, a significant step for the company's financial strategy.
This corporate action was disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission, which also referenced the unregistered sales of equity securities. The company's securities are currently traded on the OTCQB, a middle-tier over-the-counter market accessible for United States and international companies.
The details of the amendment were attached as Exhibit 10.1 to the report, providing transparency for investors and stakeholders. This filing ensures that the company complies with the necessary regulatory requirements ahead of its IPO.
The CEO of Wytec, William H. Gray, signed the 8-K filing, affirming the company's commitment to adhere to the regulations of the Securities Exchange Act of 1934. The information provided in this article is based on a press release statement and aims to present the facts without any bias or promotional content.
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