Summary by Futu AI
Freight Technologies, Inc. has announced the completion of a restructuring of the par value of its ordinary shares, which took effect on June 12, 2024. This change was made in connection with the offering of shares under a Sales Agent Agreement with Alliance Global Partners, which allows the company to sell up to $2,300,000 worth of shares at no par value each. The restructuring was previously disclosed in a Form 6-K filed on May 24, 2024, and follows the company's effective Registration Statement on Form F-3 filed on September 15, 2022. The Amended and Restated Memorandum and Articles of Association reflecting the restructuring have been filed with the Registrar of Corporate Affairs in the British Virgin Islands. This restructuring applies uniformly to all shareholders and does not affect the number of authorized shares of the company.