Xos, Inc. announced that stockholders approved all six proposals at its 2026 annual meeting on June 23, 2026. The most significant approval grants the company authorization to issue 20% or more of its outstanding common stock to holders of certain Convertible Promissory Notes, which may also result in a change of control.
Key Details
- Major Stock Issuance Approved: Shareholders approved the potential issuance of 20% or more of outstanding common stock, possibly at prices below the Nasdaq Minimum Price, to holders of certain Convertible Promissory Notes.
- Potential Change of Control: The proposal included approval for any change of control that may be deemed to occur in connection with the stock issuance.
- Equity Plan Expansion: Stockholders also approved an amendment to the 2021 Equity Incentive Plan, increasing the number of shares reserved for issuance by 3,740,000.
- Director Elections: Three Class II directors were elected to the board: George N. Mattson, Giordano Sordoni, and Alice Yake.