Company: LRHC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001213900-25-078012
Chunk: 66

Company: La Rosa Holdings Corp.
Filing Date: 2025-08-18
Form: 10-Q
Item: Item 1
Chunk 66
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 (iii) authorization to increase the number of authorized shares of our common stock
to ensure that the Company has a sufficient number of authorized shares reserved for issuance to equal at least 200% of the maximum number
of shares issuable upon conversion of the Notes, as determined under the Securities Purchase Agreement. Such approval was effective on
March 27, 2025, or 20 days after commencement of mailing of the definitive information statement regarding this approval to the stockholders
of the Company.

On June 18, 2025, with the prior approval by the
Company’s Board of Directors, the Company and the 2025 Investor entered into, and closed the transactions contemplated by, that
certain Amendment and Exchange Agreement (the “Exchange Agreement”) pursuant to which (among other things) the 2025 Investor
surrendered and exchanged all of its Incremental Warrants in exchange for (the “Exchange”) 6,000 shares of the Company’s
Series B Convertible Preferred Stock, par value $0.0001 per share (“Series B Preferred Stock”). On the same date, the Company
filed a Certificate of Designation of Rights and Preferences of the Series B Preferred Stock (the “Certificate of Designation”)
with the Secretary of State of the State of Nevada. The Initial Note remains outstanding post-Exchange.

On June 26, 2025, the Company and 2025 Investor
signed Amendment No. 1 to the Initial Note to correct an administrative error in the definition of maturity date and alternate conversion
price in the Initial Note.

Pursuant to the terms of the Exchange Agreement,
conversion of the Series B Preferred Stock into shares of common stock of the Company in excess of 19.99% of the Company’s outstanding
shares of common stock is conditional upon obtaining the approval of the Company’s stockholders in accordance with the rules and
regulations of the Nasdaq Capital Market. On July 9, 2025, Joseph La Rosa and JLR-JCCLT1 Land Trust, controlled by Mr. La Rosa, approved
such conversion and the terms of the Exchange Agreement in their capacity as stockholders of the Company holding a majority of the voting
power of the Company by written consent in lieu of having a stockholders meeting. On July 11, 2025, the Company filed a preliminary information
statement on Schedule 14C with the SEC notifying stockholders of such written consent. On July 21, 2025, the Company