Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 82

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 82
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 of the Series A into common stock was one to fifteen. At March 31, 2025, approximately 22.0 million shares of common stock were issuable upon conversion of the Series A Preferred Stock.As of March 31, 2025, the Series A was not probable of becoming redeemable, as the most likely method of settlement is through conversion which is likely to occur before the holder's right to request redemption becomes exercisable.Company Optional ConversionAt any time from and after August 1, 2029, provided the Ten-Day VWAP immediately prior to the date the Company delivers a conversion notice to the holders of Series A exceeds the conversion price, the Company may elect to convert all, but not less than all, of the outstanding shares of Series A into shares of the Company’s common stock. Automatic ConversionThe Series A will convert automatically into shares of the Company’s common stock upon the occurrence of any of the following, each an “Automatic Conversion Event”:•Any date from and after the valid termination of the Distribution Agreement by the Company or Pepsi, if the Ten-Day VWAP immediately preceding such date exceeds the conversion price of such share as of such date.•Any date from and after August 1, 2028, on which (x) the Company’s products meet a market share requirement during a specified period (as defined in the Distribution Agreement) and (y) the Ten-Day VWAP immediately prior to such date exceeds the conversion price of such share as of such date. In the case of an Automatic Conversion Event, each share of Series A then outstanding shall be converted into the number of shares of common stock equal to the conversion ratio of such share in effect as of the automatic conversion date. The occurrence of an Automatic Conversion Event will terminate any right of the holder to receive a redemption at their request even if such request had already been submitted, provided that the Series A Preferred shares had not already been redeemed.

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Celsius Holdings, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)March 31, 2025(Tabular dollars in thousands, except per share amounts)

12.    STOCK-BASED COMPENSATION

As of March 31, 2025, there were 23.4 million shares of common stock available for issuance under the Company's 2015 Stock Inventive Plan (the "2015 Plan"). The 2015 Plan expired in April 2025, and the Company is seeking stockholder approval of a new plan at the