secwatch.observer — SEC 8-K summary
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Issuer:     Bolt Projects Holdings, Inc. (BSLK)
CIK:        0001841125
Form:       8-K
Filed at:   2025-02-14T23:59:59+00:00
Accession:  0001213900-25-013819
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.01, 5.02, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bolt Projects settles $2.9M excise tax dispute, exchanges warrants, loses audit committee member
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- Settlement with Golden Arrow covers $2.875M excise tax; Golden Arrow to contribute 75% of IRS payments and secure $10M financing.
- 5M old warrants (exercise $11.50) exchanged for new warrant at $0.50 exercise price, exercisable for 5 years.
- Director Steven Klosk resigned Feb 13, audit committee drops to 2 members; Nasdaq listing Rule 5605(c)(2)(A) now breached.
- Company has 180-day cure period to appoint a third qualified audit committee member.
- Golden Arrow's total payment obligation capped at proceeds from selling 50% of its sponsor shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841125/000121390025013819/0001213900-25-013819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841125/000121390025013819/ea0231168-8k_bolt.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-013819

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer