Form 8-K - Current report
27 Setembro 2024 - 5:30PM
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2024-09-27
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (date of earliest event reported): September
27, 2024
Expion360
Inc.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-41347 |
|
81-2701049 |
(State
or other jurisdiction of |
|
(Commission |
|
(I.R.S.
Employer |
incorporation
or organization) |
|
File
Number) |
|
Identification
No.) |
2025
SW Deerhound Avenue |
Redmond,
OR 97756 |
(Address
of principal executive offices and zip code) |
(541)
797-6714
(Registrant's
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange
on which registered |
Common
Stock, par value $0.001 per share |
|
XPON |
|
The
Nasdaq Capital
Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
| Item 5.07 | Submission of Matters to a Vote of Security Holders. |
On
September 27, 2024, Expion360 Inc. (the “Company”) held its Annual Meeting of Stockholders (the “Annual Meeting”)
during which the Company’s stockholders voted on seven proposals. There were 7,576,947 shares of the Company’s common
stock, par value $0.001 per share (“Common Stock”), outstanding on August 5, 2024, the record date for the Annual Meeting.
At the Annual Meeting, 4,360,698 shares of Common Stock were present in person or represented by proxy.
The following tables
set forth the final results of the voting for the seven proposals voted upon at the Annual Meeting. These matters are described in more
detail in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on August 30,
2024.
Proposal
1: The stockholders elected five directors to serve on the Company’s Board of Directors (the “Board”) for a
one-year term of office expiring at the annual meeting of stockholders to be held in 2025 and until their successors have been elected
and qualified, or until their death, resignation, or removal. The following sets forth the results of the voting with respect to each
director nominee:
Name of Director |
|
For |
|
Withheld |
|
Broker Non-Votes |
Paul Shoun |
|
2,585,087 |
|
172,805 |
|
1,602,806 |
Brian Schaffner |
|
2,571,982 |
|
185,910 |
|
1,602,806 |
Steven M. Shum |
|
2,571,242 |
|
186,650 |
|
1,602,806 |
George Lefevre |
|
547,785 |
|
2,210,107 |
|
1,602,806 |
Tien Nguyen |
|
580,730 |
|
2,177,162 |
|
1,602,806 |
Proposal 2:
The stockholders ratified the appointment of M&K CPAS, PLLC as the Company’s independent registered public accounting firm for
the year ending December 31, 2024. The following sets forth the results of the voting with respect
to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
4,038,886 |
|
118,023 |
|
203,789 |
|
-- |
Proposal 3:
The stockholders approved and adopted an amendment to the Company’s Articles of Incorporation to effect a reverse stock split of
the Company’s outstanding shares of Common Stock by one of several ratios between 1-for-50 and 1-for-100 at any time within one
year after stockholder approval is obtained, with the timing of the amendment and the exact reverse stock split ratio to be determined
in the sole discretion of the Board (the “Reverse Stock Split Proposal”). The following
sets forth the results of the voting with respect to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
3,622,846 |
|
556,583 |
|
181,269 |
|
-- |
Proposal 4:
The stockholders did not approve and adopt an amendment to the Company’s Articles of Incorporation to reduce the number of authorized
shares of the Company’s capital stock, Common Stock and Preferred Stock, in each case, by one of several percentages between 20%
and 80% at any time within one year after stockholder approval is obtained, with the timing of the amendment and the exact percentage
to be determined in the sole discretion of the Board, if, and only if, the Reverse Stock Split Proposal is approved and implemented (the
“Authorized Share Reduction Proposal”). The following sets forth the results of the
voting with respect to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
3,768,042 |
|
401,574 |
|
191,082 |
|
-- |
Proposal 5:
The stockholders approved, in accordance with Nasdaq listing rule 5635(d), the issuance of the Series A warrants to purchase Common Stock
in connection with an offering and sale of securities of the Company that was consummated on August 8, 2024, if, and only if, the Reverse
Stock Split Proposal is approved and implemented (the “Series A Warrant Proposal”). The
following sets forth the results of the voting with respect to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
2,532,377 |
|
215,315 |
|
10,200 |
|
1,602,806 |
Proposal 6:
The stockholders approved, in accordance with Nasdaq listing rule 5635(d), the issuance of the Series B Warrants to purchase Common Stock
in connection with an offering and sale of securities of the Company that was consummated on August 8, 2024, if, and only if, the Reverse
Stock Split Proposal is approved and implemented (the “Series B Warrant Proposal”). The
following sets forth the results of the voting with respect to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
2,531,680 |
|
206,015 |
|
20,197 |
|
1,602,806 |
Proposal 7:
The stockholders approved one or more adjournments of the Annual Meeting, if necessary or appropriate, to solicit additional proxies in
favor of the Reverse Stock Split Proposal, the Authorized Share Reduction Proposal, the Series A Warrant Proposal or the Series B Warrant
Proposal if there are not sufficient votes at the Annual Meeting to approve and adopt the Reverse Stock Split Proposal, the Authorized
Share Reduction Proposal, the Series A Warrant Proposal or the Series B Warrant Proposal. The following
sets forth the results of the voting with respect to the proposal:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
3,751,600 |
|
419,567 |
|
189,531 |
|
-- |
No
other matters were presented for consideration or stockholder action at the Annual Meeting.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
EXPION360
INC. |
|
|
|
Date:
September 27, 2024 |
By: |
/s/
Brian Schaffner |
|
Name: |
Brian
Schaffner |
|
Title: |
Chief
Executive Officer |
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