An announcement from Bolt Projects Holdings ( (BSLK) ) is now available.
On February 14, 2025, Bolt Projects Holdings, Inc. reached a settlement agreement with Golden Arrow Sponsor, LLC to address approximately $2.9 million in excise tax liabilities related to stock redemptions in 2023. The agreement involves a proposed payment plan to the IRS and a potential $10 million financing arrangement by August 13, 2025, with Golden Arrow committed to covering 75% of the tax liabilities under certain conditions. Furthermore, the company entered into an exchange agreement to swap 5,000,000 private placement warrants for new warrants, with a forced exercise provision if the stock price reaches $0.85. This agreement aims to manage financial obligations and stabilize company operations. Additionally, on February 13, 2025, Steven Klosk resigned from the company’s board and audit committee, citing no disagreements with the company.
More about Bolt Projects Holdings
YTD Price Performance: 186.05%
Average Trading Volume: 6,944,464
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $39.78M
For detailed information about BSLK stock, go to TipRanks’ Stock Analysis page.