Electriq Power Holdings Says Co And Meteora Entered Into A Termination And Security Agreement On Dec 14; Meteora Will Continue To Hold 3.7M Shares Of Co's Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Electriq Power Holdings announced that it has entered into a Termination and Security Agreement with Meteora on December 14. According to the SEC filing, Meteora will retain ownership of 3.7 million shares of Electriq's Class A common stock.
December 19, 2023 | 9:24 pm
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Electriq Power Holdings has finalized a Termination and Security Agreement with Meteora, who will hold onto 3.7 million shares of Electriq's Class A common stock.
The agreement between Electriq Power Holdings and Meteora suggests a resolution of prior arrangements without immediate changes to share ownership, which is likely to have a neutral short-term impact on Electriq's stock price. The retention of shares by Meteora indicates stability in shareholder structure, which could be viewed positively by the market, but the lack of additional details in the news limits the potential impact.
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RELEVANCE 80