Skillsoft files Delaware Section 205 petition to validate charter amendment; hearing set March 29, 2023

Skillsoft Corp.

Filed petition in Delaware Chancery Court under Section 205 to validate Certificate of Amendment that increased authorized Class A shares from 200M to 375M.
Uncertainty stems from Garfield v. Boxed decision, which may require separate class vote that was not disclosed in 2021 proxy.
Certificate of Amendment was approved by ~97% of voting stockholders including majority of Class A, but separate class vote potentially required.
Court granted motion to expedite; hearing on March 29, 2023 at 10:00 a.m. Eastern Time.
If not successful, uncertainty about authorized capitalization could materially impact the company.

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