Fisker, the American electric vehicle startup, has scrapped its scheduled special investor meeting for April 24, with the event now absent from the company’s agenda, as per the investor relations website.
Initially, shareholders were poised to vote on three proposals, the first two intending to authorize the issuance of additional shares. The third proposal aimed at implementing a reverse stock split, ranging from 1-for-10 to 1-for-50, potentially aiming to boost the per-share price back to $1.
As of today, it is still unknown if the meeting will be scheduled to a later date or if this was canceled.
In the proxy filed by Fisker, the company emphasises that the Reverse Stock Split Proposal aims to “increase the trading price” to “meet the minimum per share price requirement for continued listing on the NYSE”.
Fisker has recently announced new dealer partners in the U.S. and Europe. The company now has six dealer partner locations in the U.S. (Miami and Jacksonville) and 12 in Europe.
As of today, Fisker has dealer partners in Denmark, Austria, France, Germany, Norway, and Switzerland. The company said recently it remains committed to “deliver an exceptional Fisker experience, with ongoing software updates, service, customer support, and an easy purchase process with its Dealer Partners”.
Last week, in a private Facebook group with over three thousand owners, investors, and enthusiasts of the brand, a long message enhanced its goal of providing a smooth experience to all the customers who bought Fisker’s Ocean SUV.
After several complaints from customers in Europe who saw their emails not answered after some days, the company decided to create local email addresses to better scan and solve each issue but also reaffirmed the availability of its Road Assistance service.
Last Thursday, and only 24 hours after withdrawing all financial and operational guidance for 2024, Fisker appointed both Deutsche Bank and PJT Partners as financial advisors to explore strategic alternatives.
In late March, Fisker started considerable discounts on the 2023 inventory with the Extreme variant now starting at $37,499 (down from $61,499), the Ultra variant starting at $34,999 (from $52,999), and the Sport’s one at $24,999 (from $38,999).
In the previous SEC filing disclosed earlier this month, it announced its decision to retract all financial and operational guidance for the year 2024.
Additionally, the company stated that it will abstain from issuing any updated guidance as it persists in evaluating strategic alternatives.
