Shareholders approve reverse stock split authorization for Local Bounti at ratio up to 1:25

Local Bounti Corporation/DE

Approved amendment to Certificate of Incorporation authorizing reverse stock split at ratio of 1-for-2 to 1-for-25.
Board may effect reverse split at any time prior to June 30, 2024 without further stockholder approval.
Proposal passed with 67.8M votes for, 180K against, 16K abstaining; quorum of 65% of shares.
Proposal 2 (related) not presented as Proposal 1 received sufficient votes.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

Local Bounti Corporation/DE shareholders approved To approve an amendment to Local Bounti's Certificate of Incorporation, to, at the discretion of Local Bounti's Board of Directors, effect a reverse stock split of the shares of Local Bounti's common stock, at any time prior to June 30, 2024, at a ratio within a range of 1-for-2 to 1-for-25, with th at the 2023-04-26 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-04-26

Exact text from the filing

On April 26, 2023, Local Bounti Corporation (“Local Bounti,” “we,” “us,” or “our”) held its special meeting of stockholders (the “Special Meeting”).

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Local Bounti Corporation/DE filing history →

Source: SEC EDGAR

accession 0001193125-23-127513

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