Evolv files Delaware court petition to validate charter and shares after Boxed ruling

Evolv Technologies Holdings, Inc.

Filed March 14, 2023 petition under DGCL Section 205 to validate Second Amended Certificate increasing authorized Class A shares to 1.1B.
Uncertainty stems from Garfield v. Boxed (Dec. 2022) which may require separate class vote for such amendments.
Chancery Court set hearing for March 29, 2023 at 11:40 a.m. ET; motion to expedite granted.
Company currently has 147,128,868 Class A shares outstanding; Old Certificate only authorized 50M Class A shares.
If not validated, shares issued in de-SPAC merger may be invalid, impacting Nasdaq listing and financing.

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