Chilean Cobalt Corp. 8-K

What Happened
Chilean Cobalt Corp. (COBA) filed an 8-K reporting that, under the auto-conversion provisions of its Amended Series B Certificate, all 2,407,785 issued and outstanding shares of Series B Convertible Preferred Stock were converted into common stock effective December 31, 2025. After the conversion, the company’s common stock issued and outstanding increased to 56,409,930 shares and Series B Convertible Stock outstanding decreased to zero. The conversion was made pursuant to the Certificate of Amendment referenced as Exhibit 3.2 of the company’s Form 8-K filed January 3, 2025.

Key Details

• Conversion date: December 31, 2025.
• Series B converted: 2,407,785 shares → Series B outstanding now 0.
• Common shares outstanding after conversion: 56,409,930.
• Effect on holders: former Series B holders now hold only common stock rights and no longer have preferred-stock rights (including anti-dilution protections and exchange preferences).

Why It Matters
This filing documents a change to the company’s capital structure: more common shares are outstanding and preferred-stock protections have ended for those holders. For investors, that can affect per-share measures (e.g., earnings per share) and voting composition because the converted shares are now common stock. The filing does not report any cash consideration or other material terms beyond the conversion and loss of preferred-stock rights. Investors should watch subsequent filings and the company’s cap table disclosures for any further capital-structure updates.