BONK, Inc. Enters Preferred Stock Redemption; Buys 26,667 Shares for $4M

What Happened

• BONK, Inc. (BNKK) filed an 8-K on September 11, 2026 reporting that it entered into a Preferred Stock Redemption Agreement dated September 4, 2026 with Core4 Capital Holdings Corp. Under the agreement, BONK will purchase 26,667 of Core4’s 100,000 Series A preferred shares for $4,000,000, payable by wire within three business days of the agreement.
• After the transaction, Core4 will retain 73,333 Series A preferred shares. The filing states that, in the event of a merger, those remaining 73,333 preferred shares would convert into 1,516,873 shares of BONK common stock. Core4 also agreed to irrevocably waive anti-dilution protections and all rights under the Series A Certificate of Designation (including voting, liquidation preference, and conversion rights) and provided a general release of claims related to its investment.
• BONK furnished a press release about the transaction as Exhibit 99.1 to the 8-K.

Key Details

• Purchase: 26,667 Series A preferred shares bought for $4,000,000 (wire transfer within 3 business days).
• Remaining preferred: Core4 will hold 73,333 preferred shares after the repurchase.
• Conversion: The filing specifies conversion of 73,333 preferred to 1,516,873 common upon a merger (implying roughly ~20.7 common shares per preferred).
• Waiver/release: Core4 irrevocably waived anti-dilution and other rights under the Series A designation and granted a general release of claims.

Why It Matters

• This transaction reduces the outstanding Series A preferred held by Core4 by 26,667 shares and removes certain contractual protections and claims tied to Core4’s investment. For investors, that can affect potential future dilution and the company’s capital structure because fewer preferred shares remain that could convert into common shares in a merger.
• The waiver of anti-dilution and other preferences by Core4 may simplify BONK’s equity rights and could make future financings or corporate transactions cleaner from a governance and dilution standpoint.
• BONK’s filing and accompanying press release make this a disclosed, completed agreement — investors should watch for any further filings or announcements that describe how this change fits into the company’s broader financing or strategic plans.