Butterfly Network files petition to validate charter amendment after Boxed ruling

Butterfly Network, Inc.

Filed petition in Delaware Court of Chancery under Section 205 to resolve uncertainty over authorized share capital increase from 200M to 600M shares.
Charter amendment was approved by 27,759,911 shares at Feb. 12, 2021 special meeting, but Boxed ruling questions separate class vote requirement.
Hearing set for March 14, 2023; if unsuccessful, uncertainty could materially impact the company's capitalization and NYSE listing.
Company has 175.7M Class A shares outstanding as of Feb. 1, 2023, below 200M, but potential exercise of warrants/options would exceed original limit.

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