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zSpace, Inc. (NASDAQ:ZSPC), currently trading at $1.10 per share and showing concerning financial health indicators according to InvestingPro analysis, announced amendments to its Senior Secured Convertible Note and reported the outcomes of its 2025 annual meeting of stockholders, according to a statement filed with the Securities and Exchange Commission.
On Wednesday, the company entered into an amendment with an institutional investor to revise terms of the Senior Secured Convertible Note originally issued on April 11, 2025, in the principal amount of $13,978,495. The amendment lowers the “Floor Price” for conversion from $1.98 per share to $0.60 per share, subject to adjustments for stock splits and similar transactions. The definition of “Equity Conditions” was also changed, reducing the required minimum volume-weighted average price (VWAP) over 20 trading days from $1.98 to $0.75, and lowering the minimum average daily trading volume during the same period from $300,000 to $200,000. All other terms of the note remain unchanged.
At the annual meeting, stockholders voted on five proposals amid challenging market conditions, with the stock down 95% over the past year and trading significantly below its 52-week high of $32.69. Four directors—Joanna Morris, Abhay Pande, Angela Prince, and Jane Swift—were elected to the board. The ratification of UHY LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was approved. For deeper insights into zSpace’s financial health and future prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
Shareholders also approved the issuance of common stock related to the Convertible Promissory Note dated April 11, 2025, and a Common Stock Purchase Agreement dated July 7, 2025, both as required by Nasdaq Listing Rule 5635(d). Additionally, an amendment to the company’s certificate of incorporation to allow for stockholder action by written consent was approved. A sixth proposal, regarding adjournment of the meeting to solicit additional proxies, was withdrawn as all other proposals passed.
As of the record date, there were 24,035,867 shares outstanding, with holders of 18,240,193.1 shares present in person or by proxy, representing 75.89% of outstanding shares and constituting a quorum.
This information is based on a press release statement filed with the SEC.
In other recent news, zSpace , Inc. reported its second-quarter 2025 earnings, revealing a revenue decline with earnings per share at -$0.16, which missed analyst expectations. The company’s revenue was $7.46 million, falling short of the anticipated $9.38 million. Additionally, zSpace received a notice from the Nasdaq Listing Qualifications Department for not complying with the market value rule, as its market value of publicly held shares remained below $15 million for 30 consecutive business days. The company has until March 30, 2026, to regain compliance while its stock continues to trade on the Nasdaq Global Market. In other developments, zSpace launched three new industrial robotics training applications aimed at preparing students and workers for careers in automation-driven industries. These applications include Industrial Robotics Training, Industrial Robotics Maintenance, and Industrial Robotics Operations. The recent product launch aligns with the company’s focus on educational and workforce development programs.
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