American Software Enters Reclassification Agreement With Class B Shareholder

(RTTNews) - American Software, Inc. (AMSWA) has entered into an agreement with James Edenfield, the sole owner of all of the issued and outstanding shares of the Class B Common Stock, par value $0.10 per share. The class B stock will be eliminated subject to receipt of shareholder approval. Under the terms of the reclassification agreement, each outstanding share of the class B common stock will be exchanged for 1.2 shares of the class A common stock, par value $0.10 per share.

The Board will recommend that the shareholders approve certain amendments to the Amended and Restated Articles of Incorporation to effectuate the reclassification transaction at the 2024 Annual Meeting of Shareholders.