Cyabra Inc. said its stockholders approved the elimination of all outstanding preferred stock at a special meeting on Sept. 2, converting Series A, B and C shares into common stock or warrants.
The vote, representing roughly 98% of votes cast, clears the way for Cyabra to operate with a single class of common stock once conversion and exchange agreements are finalized. The company had previously disclosed three series of preferred shares, each with distinct rights and conversion price reset provisions that would have taken effect during an 18-month protection period.
In addition to the preferred stock elimination, stockholders approved an amendment to Cyabra’s 2026 Equity Incentive Plan. The company listed Dan Brahmy, co-founder and chief executive officer, as a key proponent of the restructuring, stating that the public listing in March had left multiple share classes with overlapping terms.
Cyabra raised $6 million in a private placement in July 2026 and reported second-quarter revenue of $1.9 million, a 39% increase from the same period a year earlier. Annual recurring revenue reached $8.1 million as of June 30, up 29% year over year, with gross margins of approximately 84%.
The conversions will include Series A and B preferred shares converting into common stock, while Series C shares will exchange for common stock and warrants. Certain holders will receive pre-funded warrants in lieu of common stock. Cyabra’s shares trade under the ticker CYAB on the Nasdaq, which began listing the stock on March 27, 2026.
