The latest announcement is out from Xos (XOS).
On March 26, 2024, ElectraMeccanica shareholders experienced a significant change as each share was automatically converted into a fraction of Xos common stock as part of a strategic arrangement. Those holding derivatives such as deferred, performance, and restricted share units were able to settle these for ElectraMeccanica shares, while out-of-the-money options were cancelled without compensation. Meanwhile, purchase warrants for ElectraMeccanica shares remained valid post-arrangement. This transformative financial maneuver was executed under exemptions from standard securities registration, endorsed by a court order validating the fairness and legality of the arrangement.
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