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Executive Network Partnering Corporation (ENPC) announced proposed stock and warrant splits, pending shareholder approval. The stock split is set for 1 to 2.5, while warrants will also adjust similarly. Special meetings are scheduled for March 24, 2021, with a record date of March 22, 2021. If approved, Class A common stock will convert into 2.5 shares per unit, with a new exercise price of $11.50 for warrants. The expected adjustments aim to align ENPC's trading prices with similar companies. Trading on adjusted terms will begin on March 26, 2021.
Executive Network Partnering Corporation (ENPC) has filed a preliminary proxy statement with the SEC to hold special meetings to authorize a potential 2.5-for-1 stock split of its Class A common stock. This action aims to increase the number of shares and decrease the trading price, facilitating comparison with other special purpose acquisition companies. If approved, each Class A share and warrant will convert to 2.5 shares and warrants with an exercise price of $11.50. The special meetings are expected to occur in late March 2021.
