Summary by Moomoo AI
Fisker Inc., an American electric vehicle automaker, has announced a special meeting of stockholders to be held virtually on March 5, 2024. The meeting's agenda includes two key proposals requiring stockholder approval. The first proposal seeks approval for the potential issuance of more than 19.99% of Fisker's outstanding Class A Common Stock upon conversion of Incremental Notes, in accordance with New York Stock Exchange rules. The second proposal aims to amend the company's charter to increase the authorized shares of Class A Common Stock from 1,250,000,000 to 2,000,000,000. These proposals are part of a broader transaction that began on July 10, 2023, when Fisker entered into a Securities Purchase Agreement with an institutional investor for a registered direct offering of senior convertible notes. The agreement has since been amended to increase the principal amount of notes available for purchase. The Board of Directors has recommended stockholders vote in favor of both proposals.