Blade Air Mobility files Delaware petition to validate stock increase; hearing Feb 27

Strata Critical Medical, Inc.

On Feb 8, 2023, Blade filed a Section 205 petition with the Delaware Court of Chancery to validate its 2021 increase in authorized Class A common stock from 100M to 400M shares.
A recent Delaware ruling created uncertainty about whether a separate Class A vote was required for the amendment.
If the court does not validate the increase, it could materially impair Blade's ability to complete equity financing, issue stock-based compensation, or execute its business plan.
Hearing on the petition is set for February 27, 2023 at 10 AM ET in Wilmington, Delaware.
The company continues to believe a separate vote was not required but seeks to resolve uncertainty.

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