Hudson MX, Inc. announced that it has entered into stock purchase agreement with Ascential plc (LSE:ASCL) and will issue 35,000,000 series D preferred stock at a price of $2.1216 per share for gross proceeds of $74,256,000, 3,500,000 series D-1 preferred stock at a price of $2.1216 per share for gross proceeds of $7,425,600, and 1,000,000 series D-2 preferred stock at a price of $2.1216 per share for gross proceeds of $2,121,600, for aggregate gross proceeds of $83,803,200 on January 15, 2021. The shares are convertible, cumulative, participating and non-redeemable. The shares carry cumulative fixed dividend rate of 10% per annum.

The series D shares, series D-1 shares and series D-2 shares will be convertible into common shares at a fixed conversion price of $2.1216 per share, $2.6041 per share and $1.4935 per share respectively.