Matternet, Inc. (MTTN) is asking stockholders to approve a reverse split of its common stock at a ratio of 1-for-1.5, 1-for-2, or 1-for-2.5. If approved, the Board may select one ratio and file an amendment, or decide not to proceed. If it does not implement an approved split before the one-year anniversary of the meeting, it will seek stockholder approval again before implementing a split. The proposal is intended to help the company meet Nasdaq Capital Market’s $4.00 per-share minimum initial-listing price; Matternet says a reverse split would not assure that it meets Nasdaq’s initial listing standards.
The company’s common stock is eligible for trading on OTCQB. The proposed split would leave 500,000,000 authorized common shares unchanged, increasing authorized but unissued shares relative to issued and outstanding shares. The Board says it has no current plans regarding issuance of those additional shares. The split would apply uniformly, with ownership percentages unaffected except for fractional-share rounding; a full share would be issued in lieu of a fractional share. Approval requires a majority of votes cast, and abstentions do not count as votes cast.
Matternet, Inc. (MTTN) registered for resale by selling stockholders up to 51,590,925 shares of common stock, comprising up to 48,055,843 shares and up to 3,535,082 shares issuable upon exercise of warrants. Matternet will not receive proceeds from selling-stockholder sales, except amounts it may receive upon cash exercise of the Placement Agent Warrants, the Bridge Warrants and the Legacy Warrants.
Separately, the board amended and restated the bylaws effective October 22, 2026. The general stockholder-meeting quorum changed from a majority to one-third of voting power, subject to exceptions required by law or the company’s certificate of incorporation or bylaws. The same one-third threshold applies to separate class or series votes, subject to those exceptions.
Matternet, Inc. (MTTN) amended and restated its bylaws, effective immediately, changing the general stockholder-meeting quorum threshold from a majority to one-third (1/3) of the voting power of shares entitled to vote. The same one-third threshold applies when a separate class or series vote is required, except where law, the certificate of incorporation, or the bylaws require otherwise. Holders may count toward a quorum in person, by remote communication if applicable, or by proxy.
Matternet, Inc. (MTTN) supplements its prospectus covering the selling stockholders’ resale of up to 51,590,925 shares of common stock, consisting of up to 48,055,843 shares and up to 3,535,082 shares issuable upon exercise of warrants. Matternet will not receive proceeds from stockholder resales, except amounts it may receive upon cash exercise of the Placement Agent Warrants, Bridge Warrants and Legacy Warrants.
The attached report says Chief Financial Officer Jason Secore’s employment ended September 29, 2026, and Matternet entered a separation agreement with him on October 1, 2026. The agreement provides for a $156,146 payment, subject to timely signing, effectiveness and compliance, payable in a lump sum within 10 days after its effective date. As of the separation date, 500,526 shares under option ES-238 and 102,922 shares under option ES-291 were vested and exercisable; unvested options were cancelled. Subject to the separation preconditions, exercise rights for vested options extend to the 18-month anniversary of the date Matternet’s common stock is first listed on any market tier of The Nasdaq Stock Market, the New York Stock Exchange or NYSE American. Secore also agreed to be available for periodic consultations with the CEO during that period.
Matternet, Inc. entered into a separation agreement with Jason Secore, its Chief Financial Officer, on October 1, 2026, after his employment ended on September 29, 2026. Matternet agreed to pay him $156,146 and extend the post-termination exercise period for his equity awards until the 18-month anniversary of the date Matternet's common stock is first listed on any market tier of The Nasdaq Stock Market LLC, the New York Stock Exchange or NYSE American.
During that period, Secore agreed to be available for periodic consultations with Matternet's Chief Executive Officer. Matternet stated that his departure was not related to any disagreement regarding its operations, policies or practices.
Matternet, Inc. (MTTN) is registering up to 51,590,925 shares of common stock for offering and resale by selling stockholders. The amount comprises up to 48,055,843 shares of common stock and up to 3,535,082 shares issuable upon exercise of warrants. Matternet will receive no proceeds from selling stockholders’ sales, except amounts it may receive upon cash exercise of the Placement Agent Warrants, Bridge Warrants and Legacy Warrants.
Jason Secore’s employment as chief financial officer will end September 29, 2026, after the parties mutually agreed to begin a transition. The board appointed Andreas Raptopoulos, Matternet’s chief executive officer, as CFO effective September 29, 2026, to serve as principal financial and accounting officer alongside his principal executive officer duties.
Matternet, Inc. said Chief Financial Officer Jason Secore’s employment will end on September 29, 2026, following a mutually agreed transition concerning his responsibilities that the company had disclosed on June 15, 2026. The company stated that his departure is not related to a disagreement about its operations, policies or practices.
Effective September 29, 2026, the board appointed Chief Executive Officer Andreas Raptopoulos as CFO and principal financial and accounting officer, in addition to his duties as principal executive officer.
Matternet, Inc. (MTTN) is updating its registration statement to cover the resale by selling stockholders of up to 51,590,925 shares of common stock, including 48,055,843 existing shares and 3,535,082 shares issuable upon exercise of warrants. These are being offered for resale by the selling stockholders.
The company states it will not receive proceeds from sales of these shares, other than any cash received upon exercise of certain warrants, and will bear the registration expenses. Matternet also announced that its common stock qualified to trade on the OTCQB Venture Market and commenced trading on September 21, 2026 under the ticker "MTTN". The company is classified as an emerging growth company and a smaller reporting company under federal securities laws.
Matternet, Inc. (MTTN) reported that its common stock has qualified to trade on the OTCQB Venture Market.
The shares are expected to commence trading on the OTCQB on September 21, 2026 under the ticker symbol “MTTN”, providing a public trading venue for the company’s common stock.