Opendoor Technologies Inc. announced its decision to convene and then adjourn the Special Meeting of Stockholders, originally scheduled for July 28, 2025, until August 27, 2025. The meeting was intended to consider proposals related to a discretionary reverse stock split.
The company had previously received a notice from Nasdaq in May regarding non-compliance with the minimum bid price requirement, necessitating a closing price of at least $1.00 for 10 consecutive business days by November 24, 2025. As of July 28, Nasdaq had not yet confirmed compliance.
The Board of Directors believes adjourning the meeting is in the best interests of Opendoor and its stockholders, allowing additional time to assess market conditions and the company's stock price amidst recent volatility. Stockholders who have already voted do not need to take further action.
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