Astrotech adopts limited-duration rights plan with 15% trigger after recent stock accumulations

ASTROTECH Corp

Rights plan triggered if a person or group acquires 15% or more of ASTC common stock.
Rights expire on December 20, 2023 (364-day term); record date for distribution is January 5, 2023.
Upon trigger, rights held by the acquiring entity become void, causing significant dilution.
Plan adopted to prevent rapid open-market accumulation without a premium to all stockholders.

item 1.01 item 3.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ASTROTECH Corp entered into Rights Agreement with American Stock Transfer & Trust Company, LLC (effective 2022-12-21).

Action: entry
Counterparty: American Stock Transfer & Trust Company, LLC
Effective: 2022-12-21

Exact text from the filing

On December 21, 2022, Astrotech Corporation, a Delaware corporation (the “Company”), entered into a Rights Agreement (the “Rights Agreement”) with American Stock Transfer & Trust Company, LLC, a New York limited liability company, as rights agent (the “Rights Agent”).

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Source: SEC EDGAR

accession 0001437749-22-029528

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