Summary by Moomoo AI
FuelCell Energy, Inc. has announced a virtual Special Meeting of Stockholders scheduled for October 31, 2024, to vote on a proposed reverse stock split and potential adjournments to solicit additional proxies if necessary. The reverse stock split would combine current shares at a ratio ranging from one-for-ten to one-for-thirty, with the exact ratio to be determined by the Board. This action aims to increase the market price of FuelCell's common stock to comply with Nasdaq's minimum bid price requirement. The Board recommends stockholders to vote in favor of the proposals to facilitate the company's compliance with Nasdaq listing requirements and to enhance the appeal of the stock to a broader range of investors. The reverse...Show More