Spin-off - CLEARONE INC

Form Type: 8-K

Filing Date: 2025-07-07

Corporate Action: Spin-off

Type: New

Accession Number: 000175392625001088

Filing Summary: On June 30, 2025, ClearOne, Inc. announced that its Board of Directors declared a one-time special stock dividend to provide legacy stockholders with a 100% stake in the proceeds from a potential sale of the company's current assets and operations. The special stock dividend will be distributed as one share of Class A Redeemable Preferred Stock for every issued and outstanding share of Common Stock and any Common Stock equivalents. The record date for the dividend is set for July 11, 2025, and it will be payable on July 18, 2025. This action is part of the company's strategic initiatives to pursue possible transactions, including an asset sale, and the Class A Preferred Stock will be redeemed at 100% of the net proceeds of any such asset sale.