Aerwins Technologies (NASDAQ:AWIN) stock is rocketing higher on Monday after the Japanese air mobility company announced plans for an upcoming shareholder meeting.
According to a press release from Aerwins Technologies, the company intends to hold its annual shareholder meeting on Nov. 20, 2023. That meeting will start at 11:00 a.m. Eastern Time and will see shareholders voting on several matters.
Let’s break down the topics investors will vote on below!
- Investors in AWIN stock will be asked to vote in favor of an amendment approving a reverse stock split with a ratio ranging from one-to-10 to one-to-100.
- Another topic that will be voted on is the issuance of shares as part of a purchase agreement with Lind Global Fund II LP.
- The company also seeks permission to issue more than 20% of its common stock to Lind Global Fund II LP as part of that agreement.
- Finally, Aerwins Technologies wants shareholder approval to take care of any other business that may come about prior to its special shareholder meeting.
How This Affects AWIN Stock
With this news, shares of AWIN stock are seeing incredibly heavy trading on Monday morning. As of this writing, more than 30 million shares of the stock have changed hands. For comparison, the company’s daily average trading volume is about 5.4 million shares.
AWIN stock is up 112% as of Monday morning but was down 98.9% year-to-date when markets closed on Friday.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
