Xos, Inc. Stockholders Approve Stock Issuance for Business Combination
Ticker: XOSWW · Form: 8-K · Filed: Jun 26, 2024 · CIK: 1819493
| Field | Detail |
|---|---|
| Company | Xos, Inc. (XOSWW) |
| Form Type | 8-K |
| Filed Date | Jun 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $345.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: stockholder-meeting, business-combination, corporate-governance
TL;DR
XOS stockholders greenlit the stock issuance for the NextGen deal. Big step forward.
AI Summary
On June 24, 2024, Xos, Inc. filed an 8-K report detailing the results of its 2024 Annual Meeting of Stockholders. The company announced that its stockholders voted to approve the issuance of common stock in connection with the company's previously announced business combination with NextGen Acquisition Corp. This approval is a significant step towards the completion of the business combination.
Why It Matters
This stockholder approval is a critical milestone, paving the way for Xos, Inc. to complete its business combination with NextGen Acquisition Corp., potentially impacting its future operations and market position.
Risk Assessment
Risk Level: medium — The approval is a positive step, but the success of the business combination and its impact on Xos, Inc. are still subject to future events and market conditions.
Key Players & Entities
- Xos, Inc. (company) — Registrant
- NextGen Acquisition Corp. (company) — Business Combination Partner
- June 24, 2024 (date) — Date of Report
FAQ
What was the primary purpose of the June 24, 2024 8-K filing by Xos, Inc.?
The filing reported on the results of Xos, Inc.'s 2024 Annual Meeting of Stockholders, specifically the approval of the issuance of common stock for its business combination with NextGen Acquisition Corp.
What specific proposal did Xos, Inc. stockholders vote on?
Stockholders voted to approve the issuance of common stock in connection with the company's business combination with NextGen Acquisition Corp.
What is the significance of the stockholder approval for Xos, Inc.?
The approval is a crucial step towards the completion of the business combination between Xos, Inc. and NextGen Acquisition Corp.
When was the date of the earliest event reported in the 8-K filing?
The date of the earliest event reported was June 24, 2024.
What is Xos, Inc.'s principal executive office address?
Xos, Inc.'s principal executive offices are located at 3550 Tyburn Street, Los Angeles, California 90065.
Filing Stats: 677 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-06-26 17:01:54
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share XOS Nasdaq Capital
- $345.00 — of Common Stock at an exercise price of $345.00 per share XOSWW Nasdaq Capital Market
Filing Documents
- xos-20240624.htm (8-K) — 37KB
- 0001819493-24-000113.txt ( ) — 200KB
- xos-20240624.xsd (EX-101.SCH) — 2KB
- xos-20240624_def.xml (EX-101.DEF) — 15KB
- xos-20240624_lab.xml (EX-101.LAB) — 27KB
- xos-20240624_pre.xml (EX-101.PRE) — 16KB
- xos-20240624_htm.xml (XML) — 4KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. On June 24, 2024, Xos, Inc., (the "Company") virtually held its 2024 annual meeting of stockholders (the "Annual Meeting"). Present at the Annual Meeting virtually or by proxy were the holders of 4,828,644 shares of common stock of the Company, representing 61.34% of the 7,872,125 shares of common stock outstanding as of the close of business on April 26, 2024, the record date for the Annual Meeting, and constituting a quorum for the transaction of business. At the Annual Meeting, the Company's stockholders voted on three proposals, each of which is described in more detail in the Company's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 29, 2024. The following is a brief description of each matter voted upon and the certified results, including the number of votes cast for or against each matter and, if applicable, the number of abstentions and broker non-votes with respect to each matter. 1. To elect the following three Class III directors to hold office until the Company's 2027 Annual Meeting of stockholders. The voting results were as follows: Name Votes For Votes Withheld Broker Non-Votes Stuart Bernstein 3,402,714 122,823 1,303,107 Dietmar Ostermann 3,489,336 36,201 1,303,107 Dakota Semler 3,470,571 54,966 1,303,107 2. To ratify the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. The voting results were as follows: Votes For Votes Against Abstentions 4,785,059 28,015 15,570 3. To approve the Amended and Restated 2021 Equity Incentive Plan to increase the aggregate number of shares of the Company's common stock reserved for issuance under the 2021 Equity Incentive Plan by 1,180,819 shares. The voting results were as follows: Votes For Votes Against Abstentions Broker Non-Votes 3,253,535 263,070 8,932 1,303,107 SIGNATURE Pu