Amaze Holdings files draft information statement
AMZE•Amaze Holdings shareholders authorized increasing the company’s authorized common shares from 93.75 million to 4 billion and approved reverse stock splits of 1-for-2 to 1-for-500 in aggregate. The company intends to seek OTCQB quotation while its common stock is suspended from NYSE American trading and faces delisting.
1. Shareholder approvals
Shareholders authorized the increase in authorized common shares from 93,750,000 to 4,000,000,000 and approved one or more reverse stock splits at ratios ranging from 1-for-2 to 1-for-500, capped at 1-for-500 in aggregate. The board retains discretion over the ratios and timing. The increased share authorization could support capital raising and other corporate needs, but issuing additional shares could dilute existing shareholders.
2. Trading status
With its common stock suspended from NYSE American trading and facing delisting, Amaze Holdings intends to seek quotation on the OTCQB Venture Market.
