Smith-Midland Seeks to Double Authorized Shares
Ticker: SMID · Form: 8-K · Filed: Aug 13, 2024
Sentiment: neutral
Topics: corporate-action, share-structure
TL;DR
SMC wants to issue twice as many shares, likely for growth or acquisitions.
AI Summary
Smith-Midland Corporation (SMC) held a special meeting of its stockholders on August 7, 2024, to vote on a proposed amendment to its Certificate of Incorporation. The amendment aims to increase the number of authorized shares of common stock from 20,000,000 to 40,000,000. The company is incorporated in Delaware and its principal executive offices are located in Midland, Virginia.
Why It Matters
This move could signal future capital raising or stock-based acquisition plans for Smith-Midland Corporation.
Risk Assessment
Risk Level: medium — Increasing authorized shares can dilute existing shareholders if not used strategically for growth or acquisitions.
Key Numbers
- 40,000,000 — Proposed Authorized Shares (Increase from 20,000,000 to facilitate future corporate actions.)
- August 7, 2024 — Meeting Date (Date of the special meeting of stockholders.)
Key Players & Entities
- Smith-Midland Corporation (company) — Registrant
- August 7, 2024 (date) — Date of Special Meeting
- 20,000,000 (dollar_amount) — Current authorized shares
- 40,000,000 (dollar_amount) — Proposed authorized shares
- Delaware (location) — State of Incorporation
- Midland, Virginia (location) — Principal Executive Offices
FAQ
What was the primary purpose of the special meeting held on August 7, 2024?
The primary purpose was for stockholders to vote on a proposed amendment to the Certificate of Incorporation to increase the number of authorized shares of common stock.
By how much does Smith-Midland Corporation propose to increase its authorized shares?
The company proposes to increase the authorized shares from 20,000,000 to 40,000,000.
In which state is Smith-Midland Corporation incorporated?
Smith-Midland Corporation is incorporated in Delaware.
What is the address of Smith-Midland Corporation's principal executive offices?
The principal executive offices are located at P.O. Box 300, 5119 Catlett Road, Midland, Virginia 22728.
What is the company's telephone number?
The company's telephone number is (540) 439-3266.
Filing Stats: 489 words · 2 min read · ~2 pages · Grade level 10.3 · Accepted 2024-08-13 08:00:59
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share SMID NASDAQ I
Filing Documents
- smid_8k.htm (8-K) — 32KB
- 0001654954-24-010392.txt ( ) — 153KB
- smid-20240807.xsd (EX-101.SCH) — 6KB
- smid-20240807_lab.xml (EX-101.LAB) — 14KB
- smid-20240807_cal.xml (EX-101.CAL) — 1KB
- smid-20240807_pre.xml (EX-101.PRE) — 9KB
- smid-20240807_def.xml (EX-101.DEF) — 2KB
- smid_8k_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 The Company held its Annual Meeting of Stockholders on August 7, 2024. The final results of the voting for each matter submitted to a vote of stockholders at the Annual Meeting were as follows: Proposal No. 1. The Board of Directors' nominees were elected to serve as directors until the next Annual Meeting or until each of their respective successors is duly elected and qualified by the votes set forth below: For Withheld Ashley B. Smith 2,890,006 4,384 James Russell Bruner 2,846,330 48,060 Matthew I. Smith 2,820,110 74,280 Read Van de Water 2,850,549 43,841 Richard Gerhardt 2,808,740 85,650 Proposal No. 2. The Stockholders ratified the selection of BDO USA, LLP as the independent registered public accounting firm for the Company for the year ending December 31, 2024 by the votes set forth below: For Against Abstain 2,904,215 47 670 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 13, 2024 SMITH-MIDLAND CORPORATION By: /s/ Ashley B. Smith Ashley B. Smith Chief Executive Officer 3