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Golden Arrow Sponsor, LLC, a significant shareholder in Bolt Projects Holdings, Inc. (NASDAQ:BSLK), recently executed stock sales amounting to $505,786, according to an SEC filing. The transactions occurred in two separate sales on February 14 and February 18. The sales come as BSLK, currently valued at $22.3 million, shows significant price volatility with a 43% year-to-date gain despite a 44% drop in the past week. According to InvestingPro analysis, the stock appears overvalued at current levels.
On February 14, Golden Arrow sold 465,862 shares at a weighted average price of $0.6772 per share, with prices ranging from $0.6012 to $0.717. Following this transaction, the shareholder retained 8,696,840 shares.
A subsequent transaction on February 18 involved the sale of 235,234 shares at a weighted average price of $0.8090, with prices ranging from $0.80 to $0.8106 per share. After this sale, Golden Arrow Sponsor held 8,461,606 shares of Bolt Projects Holdings.
These transactions reflect Golden Arrow Sponsor’s continued activity in managing its holdings in Bolt Projects Holdings, a company classified under industrial organic chemicals.
In other recent news, Bolt Projects Holdings, Inc. has been notified by The Nasdaq Stock Market LLC of a potential delisting due to non-compliance with market value requirements. The company’s common stock value fell below the $50 million threshold, and the market value of publicly held shares dropped under $15 million, which are both required for continued listing on The Nasdaq Global Market. Bolt Projects Holdings has a 180-day grace period, ending on August 11, 2025, to regain compliance by raising its market value to the required levels for at least ten consecutive business days. During this period, the company plans to actively monitor its market value and consider options to regain compliance.
In a separate development, Bolt Projects Holdings has secured approximately $360,000 in funding through a private placement of equity securities. This agreement, involving the sale of 1,058,826 shares of common stock, includes high-level executives and board members as investors. Additionally, the company announced the departure of Daniel Steefel from its board of directors and audit committee. Steefel’s resignation was not due to any disagreement with the company’s operations, policies, or practices. These recent developments were disclosed in filings submitted to the SEC.
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