Fastly Doubles Authorized Shares
Ticker: FSLY · Form: 8-K · Filed: 2024-08-15T00:00:00.000Z
Sentiment: neutral
Topics: corporate-action, shares
TL;DR
Fastly just doubled its authorized shares to 2B, giving it more ammo for future growth.
AI Summary
Fastly, Inc. filed an 8-K on August 14, 2024, to report an amendment to its Certificate of Incorporation. This amendment, effective August 14, 2024, changes the company's authorized shares of common stock from 1,000,000,000 to 2,000,000,000. This action was approved by the company's Board of Directors and stockholders.
Why It Matters
This move allows Fastly to issue more stock in the future, which could be used for acquisitions, employee compensation, or raising capital.
Risk Assessment
Risk Level: medium — Increasing authorized shares can dilute existing shareholders if new shares are issued without a corresponding increase in value, but it also provides flexibility for future strategic actions.
Key Numbers
- 2,000,000,000 — Authorized Shares (Doubled from previous amount to provide flexibility for future corporate actions.)
Key Players & Entities
- Fastly, Inc. (company) — Registrant
- August 14, 2024 (date) — Date of Report
- 1,000,000,000 (dollar_amount) — Previous authorized shares of common stock
- 2,000,000,000 (dollar_amount) — New authorized shares of common stock
FAQ
What specific event is Fastly, Inc. reporting in this 8-K filing?
Fastly, Inc. is reporting an amendment to its Certificate of Incorporation to increase the number of authorized shares of its common stock.
When was the amendment to Fastly's Certificate of Incorporation effective?
The amendment was effective as of August 14, 2024.
What was the previous number of authorized shares of common stock for Fastly?
The previous number of authorized shares of common stock for Fastly was 1,000,000,000.
What is the new number of authorized shares of common stock for Fastly?
The new number of authorized shares of common stock for Fastly is 2,000,000,000.
Who approved the increase in authorized shares?
The increase in authorized shares was approved by Fastly's Board of Directors and its stockholders.
From the Filing
0001517413-24-000188.txt : 20240815 0001517413-24-000188.hdr.sgml : 20240815 20240815162240 ACCESSION NUMBER: 0001517413-24-000188 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240814 ITEM INFORMATION: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year FILED AS OF DATE: 20240815 DATE AS OF CHANGE: 20240815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fastly, Inc. CENTRAL INDEX KEY: 0001517413 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 275411834 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38897 FILM NUMBER: 241212727 BUSINESS ADDRESS: STREET 1: 475 BRANNAN STREET 2: SUITE 300 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 415-525-3481 MAIL ADDRESS: STREET 1: 475 BRANNAN STREET 2: SUITE 300 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: Skycache, Inc.(DE) DATE OF NAME CHANGE: 20110405 8-K 1 fsly-20240814.htm 8-K fsly-20240814 0001517413 false 12/31 0001517413 2024-08-14 2024-08-14 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 14, 2024 FASTLY, INC. (Exact name of Registrant as Specified in Its Charter)   Delaware 001-38897 27-5411834 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 475 Brannan Street, Suite 300 San Francisco , CA 94107 (Address of principal executive offices) (Zip code) ( 844 ) 432-7859 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instructions A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, $0.00002 par value   “FSLY”   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year On August 14, 2024, the board of directors (the “Board”) of Fastly, Inc. (“Fastly”) amended and restated Fastly's bylaws (as so amended and restated, the "Amended and Restated Bylaws"), effective immediately, to among other things: • Provide the Board with the right to postpone, reschedule, or cancel any previously scheduled meeting of stockholders; • Address the universal proxy rules adopted by the SEC by clarifying that no person may solicit proxies in support of a director nominee other than the Board’s nominees unless suc