Recent Updates — FRGT
Freight Technologies exchanged all outstanding Series A4 preferred shares and 3,190,000 Series C preferred shares for rights to receive approximately 6.4 million ordinary shares without additional consideration. The transaction simplifies the capital structure as the company's previously approved one-for-ten reverse stock split takes effect on October 19, 2026. Additionally, all remaining warrants from a 2023 convertible note financing have been exercised and cleared. Freight Technologies operates in the logistics technology sector, providing AI-driven supply chain solutions.
The board of directors approved a one-for-10 reverse split of its ordinary shares, reducing the outstanding share count from approximately 16.8 million to 1.68 million. The split is intended to increase the per-share trading price to meet Nasdaq's $1.00 minimum bid price requirement for continued listing. Shares will begin trading on a split-adjusted basis on October 19, 2026, under the same ticker symbol but with a new CUSIP number. Fractional shares of one-half or more will be rounded up to the next whole share, while smaller fractions will be cancelled. Freight Technologies is a technology company offering AI-driven supply chain and logistics management solutions.
Freight Technologies, Inc. entered into a securities purchase agreement on July 14, 2026, to issue and sell 1,200,000 Series C preferred shares for an aggregate purchase price of $1,200,000. The offering is expected to raise approximately $1.15 million in net cash proceeds for working capital and corporate purposes. The Series C Preferred Shares are immediately convertible into ordinary shares at a conversion price of the lower of $4.752 or the seven-day volume-weighted average price, subject to a floor of $0.7764. Freight Technologies, Inc. operates in the freight and logistics technology industry.
On June 18, 2026, Freight Technologies, Inc. and its subsidiaries entered into a Loan and Security Agreement for a $2,500,000 secured term loan from an institutional investor. The loan carries a 10.0% annual interest rate, matures on June 17, 2027, and is secured by all assets of the borrowers. A 10.0% prepayment premium applies to any early repayments. The company intends to use the proceeds to fully repay its existing credit facility with Capital Foundry Funding, LLC. The company operates in the logistics technology industry, providing freight management software and services.