[8-K] Xos, Inc. Reports Material Event
Xos, Inc. and Aljomaih amended terms of a convertible note to limit share-based interest and conversion dilution. The parties agreed a cap of 1,737,247 common shares (about 19.99% of outstanding stock as of August 8, 2025) that may be delivered as interest shares or issued on conversion, subject to adjustment.
If interest or conversion obligations would exceed that cap, excess interest will be paid in cash within five business days after the earlier of August 11, 2026 or the date shareholder approval is obtained to exceed the cap. The amendment clarifies conversion/interest-share mechanics and limits share issuance in the near term.
Xos, Inc. e Aljomaih hanno modificato i termini di una nota convertibile per limitare la diluizione derivante da interessi in azioni e conversioni. Le parti hanno concordato un limite di 1.737.247 azioni ordinarie (circa il 19,99% del capitale in circolazione al 8 agosto 2025) che possono essere consegnate come azioni di interesse o emesse in conversione, soggetto ad adeguamenti.
Se gli obblighi di interesse o di conversione dovessero superare tale limite, l'eccedenza sar脿 pagata in contanti entro cinque giorni lavorativi dopo il prima tra il 11 agosto 2026 o la data in cui si ottenga l'approvazione degli azionisti per superare il tetto. L'emendamento chiarisce le modalit脿 di conversione e emissione delle azioni di interesse e limita le emissioni azionarie nel breve termine.
Xos, Inc. y Aljomaih modificaron los t茅rminos de una nota convertible para limitar la diluci贸n por intereses en acciones y por conversi贸n. Las partes acordaron un tope de 1.737.247 acciones ordinarias (aproximadamente el 19,99% del capital en circulaci贸n a fecha 8 de agosto de 2025) que pueden entregarse como acciones por intereses o emitirse en conversi贸n, sujeto a ajustes.
Si las obligaciones por intereses o conversi贸n superan ese tope, el exceso se pagar谩 en efectivo dentro de los cinco d铆as h谩biles siguientes al primero de entre el 11 de agosto de 2026 o la fecha en que se obtenga la aprobaci贸n de los accionistas para exceder el tope. La enmienda aclara la mec谩nica de conversi贸n y de emisi贸n de acciones por intereses y limita la emisi贸n de acciones a corto plazo.
Xos, Inc.鞕� Aljomaih電� 鞝勴櫂靷眲鞚� 臁瓣贝鞚� 靾橃爼頃橃棳 欤检嫕 旮半皹 鞚挫瀽 氚� 鞝勴櫂鞙茧 鞚疙暅 頋劃頇旊ゼ 鞝滍暅頄堨姷雼堧嫟. 鞏戩浮鞚� 1,737,247 氤错喌欤�(2025雲� 8鞗� 8鞚� 旮办 氚滍枆欤检嫕鞚� 鞎� 19.99%)毳� 鞚挫瀽欤� 霕愲姅 鞝勴櫂 鞁� 氚滍枆頃� 靾� 鞛堧姅 靸來暅鞙茧 頃╈潣頄堨溂氅�, 鞚措姅 臁办爼霅� 靾� 鞛堨姷雼堧嫟.
鞚挫瀽 霕愲姅 鞝勴櫂 鞚橂臧� 頃措嫻 靸來暅鞚� 齑堦臣頃� 瓴届毎, 齑堦臣攵勳潃 靸來暅 齑堦臣鞐� 雽�頃� 欤检＜ 鞀轨澑鞚� 霕愲姅 2026雲� 8鞗� 11鞚� 欷� 牍犽ジ 雮� 鞚错泟 鞓侅梾鞚� 旮办 5鞚� 鞚措偞鞐� 順勱笀鞙茧 歆�旮夒惄雼堧嫟. 鞚措矆 靾橃爼鞎堨潃 鞝勴櫂 氚� 鞚挫瀽欤� 甏�霠� 鞝堨皑毳� 氇呿檿頌� 頃橁碃 雼赴 雮� 欤检嫕 氚滍枆鞚� 鞝滍暅頃╇媹雼�.
Xos, Inc. et Aljomaih ont modifi茅 les termes d'une note convertible afin de limiter la dilution li茅e aux int茅r锚ts en actions et aux conversions. Les parties ont convenu d'un plafond de 1 737 247 actions ordinaires (environ 19,99% du capital en circulation au 8 ao没t 2025) pouvant 锚tre remises en tant qu'actions d'int茅r锚t ou 茅mises lors d'une conversion, sous r茅serve d'ajustements.
Si les obligations d'int茅r锚ts ou de conversion devaient d茅passer ce plafond, l'exc茅dent sera pay茅 en esp猫ces dans les cinq jours ouvrables suivant la premi猫re des deux dates : le 11 ao没t 2026 ou la date 脿 laquelle l'approbation des actionnaires pour d茅passer le plafond est obtenue. L'amendement pr茅cise les modalit茅s de conversion et d'茅mission d'actions d'int茅r锚t et limite les 茅missions d'actions 脿 court terme.
Xos, Inc. und Aljomaih haben die Bedingungen einer wandelbaren Anleihe ge盲ndert, um die Verw盲sserung durch aktienbasierte Zinsen und Wandlung zu begrenzen. Die Parteien vereinbarten eine Obergrenze von 1.737.247 Stammaktien (etwa 19,99% des am 8. August 2025 ausstehenden Kapitals), die als Zinsaktien geliefert oder bei Wandlung ausgegeben werden d眉rfen, vorbehaltlich Anpassungen.
Wenn Zins- oder Wandlungsverpflichtungen diese Obergrenze 眉berschreiten w眉rden, wird der 眉bersch眉ssige Betrag in bar innerhalb von f眉nf Gesch盲ftstagen nach dem fr眉heren der beiden Termine 鈥� dem 11. August 2026 oder dem Datum, an dem die Zustimmung der Aktion盲re zur 脺berschreitung der Obergrenze erteilt wird 鈥� gezahlt. Die 脛nderung kl盲rt die Mechanik von Wandlung und Zinsaktien und begrenzt die Aktienausgabe kurzfristig.
- Cap on dilution: The amendment limits total Interest Shares and conversion-related issuances to 1,737,247 shares (19.99%), reducing immediate dilution risk.
- Cash alternative: Any interest amounts exceeding the cap must be paid in cash by the earlier of August 11, 2026 or shareholder approval to exceed the cap, preventing automatic share issuance beyond the Limit.
- Transparency and mechanics clarified: The Letter clarifies how Interest Shares and conversion issuances are treated, improving predictability for shareholders and modelers.
- None.
Insights
TL;DR: Amendment caps share-based dilution from the convertible note at 19.99%, creating a near-term limit on equity issuance tied to interest and conversion.
The Letter formalizes a quantitative ceiling of 1,737,247 shares for Interest Shares and conversion-related issuance, which constrains dilution that could arise from the Convertible Note. By requiring cash payment for any interest beyond the cap until either shareholder approval or August 11, 2026, the company preserves flexibility to avoid immediate excessive share issuance but assumes additional near-term cash obligations if the cap is reached. For financial modeling, treat potential dilution as limited to the stated cap pending any shareholder vote or adjustment.
TL;DR: The amendment protects existing shareholders by imposing a clear limit on equity issuance tied to the note and specifying alternative cash payments.
The agreement sets an explicit, adjustable Limit equal to approximately 19.99% of outstanding common stock as of August 8, 2025, and clarifies issuance mechanics for Interest Shares. This provides transparency on potential dilution and ties any increase above the Limit to a shareholder approval process or a deferred cash-payment timeline. From a governance perspective, codifying shareholder approval as a condition to exceed the cap strengthens shareholder control over dilution decisions.
Xos, Inc. e Aljomaih hanno modificato i termini di una nota convertibile per limitare la diluizione derivante da interessi in azioni e conversioni. Le parti hanno concordato un limite di 1.737.247 azioni ordinarie (circa il 19,99% del capitale in circolazione al 8 agosto 2025) che possono essere consegnate come azioni di interesse o emesse in conversione, soggetto ad adeguamenti.
Se gli obblighi di interesse o di conversione dovessero superare tale limite, l'eccedenza sar脿 pagata in contanti entro cinque giorni lavorativi dopo il prima tra il 11 agosto 2026 o la data in cui si ottenga l'approvazione degli azionisti per superare il tetto. L'emendamento chiarisce le modalit脿 di conversione e emissione delle azioni di interesse e limita le emissioni azionarie nel breve termine.
Xos, Inc. y Aljomaih modificaron los t茅rminos de una nota convertible para limitar la diluci贸n por intereses en acciones y por conversi贸n. Las partes acordaron un tope de 1.737.247 acciones ordinarias (aproximadamente el 19,99% del capital en circulaci贸n a fecha 8 de agosto de 2025) que pueden entregarse como acciones por intereses o emitirse en conversi贸n, sujeto a ajustes.
Si las obligaciones por intereses o conversi贸n superan ese tope, el exceso se pagar谩 en efectivo dentro de los cinco d铆as h谩biles siguientes al primero de entre el 11 de agosto de 2026 o la fecha en que se obtenga la aprobaci贸n de los accionistas para exceder el tope. La enmienda aclara la mec谩nica de conversi贸n y de emisi贸n de acciones por intereses y limita la emisi贸n de acciones a corto plazo.
Xos, Inc.鞕� Aljomaih電� 鞝勴櫂靷眲鞚� 臁瓣贝鞚� 靾橃爼頃橃棳 欤检嫕 旮半皹 鞚挫瀽 氚� 鞝勴櫂鞙茧 鞚疙暅 頋劃頇旊ゼ 鞝滍暅頄堨姷雼堧嫟. 鞏戩浮鞚� 1,737,247 氤错喌欤�(2025雲� 8鞗� 8鞚� 旮办 氚滍枆欤检嫕鞚� 鞎� 19.99%)毳� 鞚挫瀽欤� 霕愲姅 鞝勴櫂 鞁� 氚滍枆頃� 靾� 鞛堧姅 靸來暅鞙茧 頃╈潣頄堨溂氅�, 鞚措姅 臁办爼霅� 靾� 鞛堨姷雼堧嫟.
鞚挫瀽 霕愲姅 鞝勴櫂 鞚橂臧� 頃措嫻 靸來暅鞚� 齑堦臣頃� 瓴届毎, 齑堦臣攵勳潃 靸來暅 齑堦臣鞐� 雽�頃� 欤检＜ 鞀轨澑鞚� 霕愲姅 2026雲� 8鞗� 11鞚� 欷� 牍犽ジ 雮� 鞚错泟 鞓侅梾鞚� 旮办 5鞚� 鞚措偞鞐� 順勱笀鞙茧 歆�旮夒惄雼堧嫟. 鞚措矆 靾橃爼鞎堨潃 鞝勴櫂 氚� 鞚挫瀽欤� 甏�霠� 鞝堨皑毳� 氇呿檿頌� 頃橁碃 雼赴 雮� 欤检嫕 氚滍枆鞚� 鞝滍暅頃╇媹雼�.
Xos, Inc. et Aljomaih ont modifi茅 les termes d'une note convertible afin de limiter la dilution li茅e aux int茅r锚ts en actions et aux conversions. Les parties ont convenu d'un plafond de 1 737 247 actions ordinaires (environ 19,99% du capital en circulation au 8 ao没t 2025) pouvant 锚tre remises en tant qu'actions d'int茅r锚t ou 茅mises lors d'une conversion, sous r茅serve d'ajustements.
Si les obligations d'int茅r锚ts ou de conversion devaient d茅passer ce plafond, l'exc茅dent sera pay茅 en esp猫ces dans les cinq jours ouvrables suivant la premi猫re des deux dates : le 11 ao没t 2026 ou la date 脿 laquelle l'approbation des actionnaires pour d茅passer le plafond est obtenue. L'amendement pr茅cise les modalit茅s de conversion et d'茅mission d'actions d'int茅r锚t et limite les 茅missions d'actions 脿 court terme.
Xos, Inc. und Aljomaih haben die Bedingungen einer wandelbaren Anleihe ge盲ndert, um die Verw盲sserung durch aktienbasierte Zinsen und Wandlung zu begrenzen. Die Parteien vereinbarten eine Obergrenze von 1.737.247 Stammaktien (etwa 19,99% des am 8. August 2025 ausstehenden Kapitals), die als Zinsaktien geliefert oder bei Wandlung ausgegeben werden d眉rfen, vorbehaltlich Anpassungen.
Wenn Zins- oder Wandlungsverpflichtungen diese Obergrenze 眉berschreiten w眉rden, wird der 眉bersch眉ssige Betrag in bar innerhalb von f眉nf Gesch盲ftstagen nach dem fr眉heren der beiden Termine 鈥� dem 11. August 2026 oder dem Datum, an dem die Zustimmung der Aktion盲re zur 脺berschreitung der Obergrenze erteilt wird 鈥� gezahlt. Die 脛nderung kl盲rt die Mechanik von Wandlung und Zinsaktien und begrenzt die Aktienausgabe kurzfristig.
FAQ
What limit does the XOS and Aljomaih amendment place on share issuance?
What happens if interest or conversion obligations exceed the 1,737,247-share cap?
Does the amendment change conversion mechanics for the Convertible Note?
Is shareholder approval required to exceed the cap?
When does the cash-payment alternative deadline occur if the cap is exceeded?
