Business
Opendoor to Adjourn Special Meeting of Stockholders to August 27, 2025
SAN FRANCISCO, July 28, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor” or the “Company”) (Nasdaq: OPEN), a leading e-commerce platform for
About this update from Opendoor Technologies Inc
[{"type":"text","content":"SAN FRANCISCO, July 28, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor” or the “Company”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it intends to convene and then adjourn the Special Meeting of Stockholders (the “Special Meeting”) scheduled to occur at 9:30 a.m. Pacific Time, on Monday, July 28, 2025 until August 27, 2025. No other business will be conducted at the Special Meeting. The Special Meeting was being held to consider two proposals related to a discretionary reverse stock split of the Company’s common stock. Approval of the proposals does not mean that a reverse stock split would occur. Rather, an approval would provide the Company’s Board of Directors with an option to pursue a reverse stock split only if the Board believes it is in the best interests of Opendoor and its stockholders, which includes seeking to ensure that Opendoor remains listed on Nasdaq. As previously disclosed, the Company received notice from Nasdaq in May that it had failed to comply with Nasdaq listing rules because the closing price of the Company’s common stock was below $1.00 per share for 30 consecutive business days. For Opendoor to be back in compliance with Nasdaq listing rules, the closing price of Opendoor’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days by November 24, 2025, and Nasdaq, in its sole discretion, can extend this minimum 10-day trading period. As of today, Nasdaq has not notified the Company that it has regained compliance with Nasdaq listing requirements. In light of the recent volatility in the trading of Opendoor’s common stock and the impact on its trading price, the Board believes it is in the best interests of Opendoor and its stockholders to adjourn the Special Meeting today to allow for additional time to assess market conditions and the Company’s stock price before holding the Special Meeting. The Special Meeting will be adjourned until 9:30 a.m. Pacific Time on August 27, 2025. It will continue to be held online at www.virtualshareholdermeeting.com/OPEN2025SM. For information on how to attend the reconvened Special Meeting online and submit questions during the Special Meeting, please see the Company’s definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Com...