8-K
filed June 23, 2023, 7:59 PM ET
ticker SKLZ
CIK 0001801661
other material
confidence high
sentiment negative
materiality 0.75
Skillz announces 1-for-20 reverse stock split effective June 23 to regain NYSE compliance
Skillz Inc.
- Reverse stock split at 1-for-20 ratio effective June 23, 2023; trading on split-adjusted basis from June 26.
- Split intended to bring Skillz back into compliance with NYSE continued listing standards.
- Class A shares outstanding reduced from ~354.7M to ~17.7M; Class B from ~68.6M to ~3.4M.
- Fractional shares will be paid in cash; no change to stockholder percentage interests.
- Stockholders approved reverse split authority at June 20 annual meeting; Board set final ratio at 1-for-20.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Skillz Inc.: Approved and filed a Certificate of Amendment to effect a 1-for-20 reverse stock split and proportionate reduction in authorized shares (effective 2023-06-23).
- Change
- charter amendment
- Effective
- 2023-06-23
Exact text from the filing
On June 22, 2023, the Board approved the Final Ratio of 1-for-20. The Reverse Stock Split became effective on June 23, 2023 upon filing of a Certificate of Amendment (the “Reverse Stock Split Certificate of Amendment”) to the Company’s Charter with the Secretary of State of the State of Delaware (the “Effective Time”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Skillz Inc. shareholders approved Approval of Amendment to the Company’s Charter to provide the Board with discretion to effect a reverse stock split of the Company’s Common Stock.
- Proposal
- reverse split
- Outcome
- passed
Exact text from the filing
Approval of Amendment to the Company’s Charter to provide the Board with discretion to effect a reverse stock split of the Company’s Common Stock 1,579,648,972 15,124,846 4,336,637 N/A
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Skillz Inc. shareholders approved Election of Directors.
- Proposal
- director election
- Outcome
- passed
Exact text from the filing
Election of Directors Andrew Paradise 1,428,113,747 40,788,920 1,406,211 128,801,577 Casey Chafkin 1,432,019,295 36,680,966 1,608,617 128,801,577 Kevin Chessen 1,465,241,837 3,207,671 1,859,370 128,801,577 Henry Hoffman 1,454,558,041 13,827,170 1,923,667 128,801,577 Alex Mandel 1,465,423,888 3,037,023 1,847,967 128,801,577 Seth Schorr 1,454,556,772 13,881,650 1,870,456 128,801,577 Kent Wakeford 1,416,114,650 52,353,018 1,841,210 128,801,577
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Skillz Inc. shareholders approved Approval of Amendment to the Company’s Charter to Reflect New Delaware Law Provisions Regarding Officer Exculpation.
- Proposal
- charter amendment
- Outcome
- passed
Exact text from the filing
Approval of Amendment to the Company’s Charter to Reflect New Delaware Law Provisions Regarding Officer Exculpation 1,439,749,655 28,567,543 1,991,680 128,801,577
View on SEC.gov
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