Heliogen effects 1-for-35 reverse stock split, adjusts warrants and equity awards

Heliogen, Inc.

Reverse stock split at 1-for-35 ratio effective 5:00 pm ET on August 31, 2023; stock begins trading on split-adjusted basis Sept 1.
Outstanding warrants adjusted: Public warrants exercise price set to $402.50; shares subject to warrants reduced proportionately.
Equity awards (options and RSUs) adjusted: exercise prices increased proportionately, number of shares decreased.
Preferred share purchase rights (Rights) adjusted: exercise price raised to $122.50, redemption price to $0.0035.
No fractional shares issued; cash in lieu based on Aug 31 closing price.

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

Heliogen, Inc.: Reverse stock split at 1-for-35 ratio, affecting common stock par value, warrant adjustments, and Rights Agreement terms (effective 2023-08-31).

Change: charter amendment
Effective: 2023-08-31

Exact text from the filing

On August 31, 2023, the Company filed the Charter Amendment with the Secretary of State of the State of Delaware to effect the 1-for-35 Reverse Stock Split of the Company’s outstanding common stock.

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Source: SEC EDGAR

accession 0001840292-23-000038

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