Oblong shareholders approve stock issuance; $4M escrow funds to be released

TaoWeave, Inc.

Stockholders approved issuance of shares underlying convertible preferred and warrants per Nasdaq Rule 5635(d); 1,448,323 for, 80,452 against.
Special Meeting quorum of 59.30% (1,530,104 shares present out of 2,580,370 outstanding).
Following approval, American Stock Transfer released $4,000,000 escrow from March 31 private placement to Oblong.
Adjournment proposal also passed (1,447,508 for) but was unnecessary after Issuance Proposal approval.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

TaoWeave, Inc. shareholders approved Approval of the issuance of shares of our common stock underlying shares of convertible preferred stock and warrants issued pursuant to that certain Securities Purchase Agreement, dated as of March 30, 2023, by and among Oblong, Inc. and the investors named therein, in an amount equal to 20% or more at the 2023-05-18 meeting.

Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

1. Approval of the issuance of shares of our common stock underlying shares of convertible preferred stock and warrants issued pursuant to that certain Securities Purchase Agreement, dated as of March 30, 2023, by and among Oblong, Inc. and the investors named therein, in an amount equal to 20% or more of our common stock outstanding before the issuance of such convertible preferred stock and warrants (including upon the operation of anti-dilution provisions contained in such convertible preferred stock and warrants), as required by and in accordance with Nasdaq Listing Rule 5635(d). Votes For Votes Against Votes Abstain Broker Non-Votes 1,448,323 80,452 1,329 0

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Source: SEC EDGAR

accession 0000746210-23-000043

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