Company: GROVW
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001628280-25-020642
Chunk: 38

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 38
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 Series A Preferred Shares were modified (the “Series A' Preferred Stock Financing”). In connection with the Series A' Preferred Stock Financing, Grove amended and restated the Certificate of Designation of the Series A Convertible Preferred Stock to designate and establish the rights of the Series A’ Preferred Shares and modify the rights of the Series A Preferred Shares to be pari passu with the Series A’ Preferred Shares.

The Preferred Stock ranks prior and superior to all of the Common Stock of the Company. The Preferred Stock has a liquidation preference of $1,000 per share (the “Liquidation Price”), a right to receive dividends when determined by the Board, conversion and the right to vote with the holders of shares of Common Stock on an as-converted to Common Stock basis at any annual or special meeting of stockholders of the Company, and not as a separate class, except as required by Delaware law. The Series A Preferred Stock had redemption rights, but the Company and Volition Capital Fund IV agreed to terminate those rights as part of the Series A' Preferred Stock Financing. Each share of Preferred Stock is convertible, at the option of the holder thereof, at any time, at the office

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of the Company or any transfer agent for such stock, into such number of fully paid and nonassessable shares of Class A Common Stock equal to the sum of (i) the amount determined by dividing (x) the Liquidation Price plus any declared but unpaid dividends to which such share of Preferred Stock is then entitled by (y) the then-effective Conversion Price in effect on the date the certificate is surrendered for conversion or notice is provided for non-certificated shares and (ii) the Subsequent Issuance Share Adjustment; provided, however, that (1) prior to obtaining stockholder approval of the conversion rights or voting power in excess of the Change of Control Limitation (as defined below) in accordance with the applicable rules and regulations of the New York Stock Exchange, no conversion of shares of Preferred Stock into Class A Common Stock shall exceed the Change of Control Limitation, and (2) in no event shall the number of shares of Class A Common Stock into which a share of Preferred Stock is converted into exceed a number in excess of (x) the Liquidation Price divided by (y) the Minimum Price (as defined by Section 312.04(h) of the NYSE Listed Company Manual) as of the date of the applicable Subscription Agreement pursuant to which such shares of Preferred Stock were purchased