Other Events ·
Sonoma Pharmaceuticals adopts Section 382 rights agreement to protect net operating loss carryforwards
SNOASonoma Pharmaceuticals, Inc.
On October 6, 2026, Sonoma Pharmaceuticals adopted a new Section 382 rights agreement with Computershare Inc. to replace an expiring predecessor agreement. The plan issues one preferred stock purchase right for each outstanding share of common stock as of the October 13, 2026 record date. Each right entitles holders to purchase one-thousandth of a Series B Preferred Share at $10.00 per unit. The rights are designed to prevent ownership changes that would limit the company's ability to utilize net operating loss carryforwards and other tax benefits under Internal Revenue Code Section 382. Rights become exercisable if any person or group acquires 4.99% or more of the common stock, subject to specific grandfathering provisions for existing large shareholders. The agreement expires on October 6, 2036, or when the tax benefits are exhausted. Sonoma Pharmaceuticals operates in the pharmaceutical industry, developing and commercializing medical devices and drug delivery systems.