Artius Acquisition Inc (NASDAQ: ORGN) announced the consequences for the ten tenders deliberated and voted upon by its stockholders at its Extraordinary General Meeting on June 23, 2021.
Proposals voted on related to its contract with Origin Materials
Artius reported that all of the proposals connected to the beforehand announced corporate amalgamation agreement between it and Origin Materials were agreed by its stockholders at the Extraordinary General Meeting. A Form 8-K revealing the full voting results has been filed with the Securities and Exchange Commission.
The concluding of the business grouping is expected to occur preceding the market open on Friday, June 25, 2021. Subsequent closing of the business grouping, the shared company’s stock and securities are projected to trade under the ticker symbols “ORGN” and “ORGNW,” correspondingly opening on Friday, June 25, 2021.
Shareholders of Artius acknowledged the Origin Materials, Inc. 2021 Equity Incentive Plan
On June 23, 2021, in linking with an extraordinary general meeting of stockholders, stockholders of Artius accepted the Origin Materials, Inc. 2021 Equity Incentive Plan, which initially makes accessible a maximum number of stocks of Origin Materials, Inc.’s mutual stock. The amount is equivalent to 10% of the fully-diluted portions of common stock of Origin Materials, Inc. unresolved directly succeeding consummation of the Business Combination.
Moreover, the number of stocks of Origin Materials, Inc. common stock earmarked for issuance under the 2021 Plan will mechanically upsurge on January 1 of each year, beginning on January 1, 2022, and concluding on and counting January 1, 2031, in quantity equivalent to the smaller of (i) 5% of the collective number of stocks of Origin Materials, Inc. common stock unresolved on the final day of the directly previous calendar year, (ii) such lesser number of stocks as is regulated by Origin Material’s board of directors, or (iii) a smaller number of stocks of Origin Materials, Inc. common stock that would not consequence in the share reserve surpassing 15% of the fully-diluted stocks of Origin Materials, Inc. common stock as of the concluding day of the directly preceding calendar year.
The maximum number of stocks of Origin Materials, Inc. common stock that may be distributed under the application of inducement stock selections decided under the 2021 Plan will be several shares equivalent to 300% of the early share reserve.