Item 1.01. Entry into a Material Definitive Agreement.
On June 30, 2020, Rennova Health, Inc. (the "Company") entered into an Exchange
Agreement (the "Agreement") with Christopher Diamantis, who had previously been
a director of the Company until his resignation on February 26, 2020. Pursuant
to the Agreement, the Company issued to Mr. Diamantis 22,000 shares of its
Series M Convertible Preferred Stock (the "Preferred Stock") in exchange for the
extinguishment of the Company's indebtedness to Mr. Diamantis totalling
$18,849,637.06, including accrued interest, as of June 30, 2020.
The terms of the Preferred Stock were set forth in the Company's Current Report
on Form 8-K filed with the Securities and Exchange Commission on June 16, 2020.
In particular, each holder of the Preferred Stock shall be entitled to vote on
all matters submitted to a vote of the holders of the Company's common stock.
Regardless of the number of shares of Preferred Stock outstanding and so long as
at least one share of Preferred Stock is outstanding, the outstanding shares of
Preferred Stock shall have the number of votes, in the aggregate, equal to 51%
of all votes entitled to be voted at any meeting of stockholders or action by
written consent. Each outstanding share of the Preferred Stock shall represent
its proportionate share of the 51% allocated to the outstanding shares of
Preferred Stock in the aggregate. The Preferred Stock shall vote with the common
stock and any other voting securities as if they were a single class of
securities.
The foregoing description of the Agreement does not purport to be complete and
is qualified by reference to the Agreement, a copy of which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Exhibit Description
10.1 Exchange Agreement, dated as of June 30, 2020, between Rennova
Health, Inc. and Christopher Diamantis
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RENNOVA HEALTH INC 
