Advent Technologies approves 1-for-30 reverse stock split to meet Nasdaq minimum bid

ADVENT TECHNOLOGIES HOLDINGS, INC.

Stockholders approved reverse stock split at ratio range 1-for-2 to 1-for-30; board set ratio at 1-for-30.
Outstanding shares to reduce from ~77.6M to ~2.6M; no fractional shares, cash in lieu.
Board acted on April 30, 2024 after April 29, 2024 special meeting approval.
Company submitted compliance plan to Nasdaq to file Form 10-K by May 31, 2024.
Reverse split intended to regain compliance with Nasdaq's $1.00 minimum bid price requirement.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC. shareholders approved To approve an amendment to the Company’s 2021 Equity Incentive Plan to increase the number of shares of Common Stock issuable under the Plan from 6,915,892 to 17,079,188 at the 2024-04-29 meeting.

Proposal: equity plan
Outcome: passed
Meeting: 2024-04-29

Exact text from the filing

Votes For Votes Against Abstentions 15,673,164 4,327,892 65,965

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC. shareholders approved To approve an amendment to the Company’s Second Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio in the range of 1-for-2 to 1-for-30 at the 2024-04-29 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-04-29

Exact text from the filing

Votes For Votes Against Abstentions 30,061,928 3,125,713 33,801

View on SEC.gov

326 shareholder votes filed in the last 30 days. Browse all shareholder votes →

ADVENT TECHNOLOGIES HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001829126-24-002955

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