Verb Technology Company, Inc. announced that it has entered into into a securities purchase agreement with new investor Streeterville Capital, LLC to issue 3,000 shares of non-convertible Series C Preferred Stock at an issue price of $1,000 per share for a total purchase price of $3,000,000 on December 29, 2023. The Shares have a 10% stated annual dividend, no voting rights and has a face value of $1,300 per share. The sale of the Shares was consummated on December 29, 2023.

The Securities Purchase Agreement contains customary representations and warranties from the Company, on the one hand, and the Purchaser, on the other. The sale of the Series C Preferred Stock pursuant to the Securities Purchase Agreement has not been registered under the Securities Act of 1933, as amended (the ?Securities Act?), in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and certain rules and regulations promulgated thereunder. The Series C Preferred Stock is not convertible into common shares of capital stock of the Company and as such is non-dilutive to current stockholders.