Grove Collaborative approves 1-for-5 reverse stock split effective June 5, 2023 to regain NYSE compliance

Grove Collaborative Holdings, Inc.

Board approves 1-for-5 reverse split after stockholder authorization for ratio between 1-for-5 and 1-for-25.
Effective after market close June 5, 2023; shares begin split-adjusted trading June 6, 2023 under same ticker GROV.
Class A shares to reduce from ~129M to ~26M; Class B from ~50M to ~10M; no fractional shares (cash in lieu).
Warrant exercise price adjusted to $57.50 per share; shares underlying warrants reduced to 1.61M.
Company must maintain $1/share for 30 trading days post-split to regain NYSE listing compliance; potential date July 20, 2023.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Grove Collaborative Holdings, Inc. shareholders approved Election of two Class I directors to hold office until the 2026 annual meeting at the 2023-05-24 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-05-24

Exact text from the filing

Director Votes For Votes Withheld Broker Non-Votes Stuart Landesberg 462,133,208 498,645 21,454,526 Kristine Miller 459,626,629 3,005,224 21,454,526

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Grove Collaborative Holdings, Inc. shareholders approved Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ended December 31, 2023 at the 2023-05-24 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-05-24

Exact text from the filing

Votes For Votes Against Abstentions 483,812,313 55,439 218,627

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Grove Collaborative Holdings, Inc. shareholders approved Approval of an amendment to the Company's certificate of incorporation to effect a reverse stock split at the 2023-05-24 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-05-24

Exact text from the filing

Votes For Votes Against Abstentions 481,599,189 2,268,268 218,922

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

Grove Collaborative Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001841761-23-000054

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