Functional Brands shares surge 11.32% premarket after repurchasing 12,022 Series A Preferred shares to reduce dilution.

Functional Brands Inc. surged 11.32% in premarket trading following the announcement that it repurchased all 12,022 outstanding Series A Convertible Preferred shares from Helena Global Investment Opportunities 1 for $15.00 per share, totaling $180,330. The transaction, funded from working capital and closed on Dec 31.