Corporate ActionMay 14, 2026, 04:20 PM
urban-gro to Change Name; Seeks Share Issuance Approvals
AI Summary
urban-gro, Inc. announced a Special Meeting of Stockholders on June 3, 2026, to vote on several key proposals. These include a proposed name change to "Flash Sports & Media Holdings, Inc." following its merger with Flash Sports and Media, Inc. The company also seeks stockholder approval for the issuance of common stock upon conversion of Series B Convertible Non-Voting Preferred Stock and in connection with certain financing transactions, both of which could exceed 19.99% of outstanding common stock and are necessary for Nasdaq compliance. The potential for significant dilution to existing stockholders is noted.
Key Highlights
- Special Meeting of Stockholders scheduled for June 3, 2026, at 10:00 a.m. ET, held virtually.
- Stockholders to vote on changing the company name to "Flash Sports & Media Holdings, Inc.".
- Seeks approval for common stock issuance from Series B Convertible Non-Voting Preferred Stock conversion, exceeding 19.99% of outstanding common stock.
- Seeks approval for common stock issuance from financing with Hudson Global Ventures, LLC and Agile Hudson Partners LLC, exceeding 19.99% of outstanding common stock.
- Issuance approvals are required for compliance with Nasdaq Listing Rule 5635(d).
- The proposed share issuances could result in significant dilution to existing stockholders.
- The Board of Directors unanimously recommends voting "FOR" all proposals.
- Record Date for voting was May 6, 2026, with 1,658,828 shares of common stock outstanding.