American Electric Technologies, Inc. (NASDAQ:AETI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

At a Special Meeting of Stockholders held on July 17, 2019 (the “Special Meeting”) the stockholders of the Company approved an amendment to the Articles of Incorporation to increase the authorized number of shares of Common Stock from 50,000,000 shares to 300,000,000 shares, which amendment became effective on July 18, 2019. The text of the Articles of Amendment to the Articles of Incorporation is attached hereto as Exhibit 3.1

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the Special Meeting, the stockholders of the Company voted as set forth below on the following proposals, each of which is described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on June 13, 2019 (the “Proxy Statement”).

Of the 11,603,703 eligible votes as of the record date of May 29, 2019, a quorum of 10,839,360 votes, or approximately 93.41% of the eligible votes, were present in person or by proxy.

The final voting results for each matter submitted to a vote at the Special Meeting are as follows:

Proposal 1. To approve the issuance of our common stock in connection with the acquisition of Stabilis Energy LLC and its subsidiaries:

Proposal 2. To approve an amendment to our Articles of Incorporation to increase the number of authorized shares of common stock from 50,000,000 to 300,000,000 shares:

Proposal 3. To authorize the Board of Directors to effect a reverse stock split of our common stock at a ratio between 1:2 to 1:8 to be determined by our Board of Directors:

Proposal 4. To authorize an amendment to our Articles of Incorporation to change our name to Stabilis Energy, Inc.

Item 8.01 Other Events.

On July 18, 2019 the Company issued a press release announcing that the Company’s stockholders approved the proposals related to the pending share exchange transaction with Stabilis Energy LLC and its subsidiaries (“Stabilis”) at the Special Meeting. The text of the press release is attached hereto as Exhibit 99.1

Item 9.01   Financial Statements and Exhibits.  

     (d) Exhibits

Exhibit

Number    

3.1             Articles of Amendment to Articles of Incorporation filed with the Florida Division of Corporations on July 18, 2019 increasing authorized common stock to 300,000,000 shares.

American Electric Technologies Inc Exhibit
EX-3.1 2 aeti-ex31_6.htm EX-3.1 aeti-ex31_6.htm Ex. 3.1   ARTICLES OF AMENDMENT TO ARTICLES OF INCORPORATION OF AMERICAN ELECTRIC TECHNOLOGIES,…
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About American Electric Technologies, Inc. (NASDAQ:AETI)

American Electric Technologies, Inc. is a provider of power delivery solutions to the global energy industry. The Company serves a range of markets, such as power generation and distribution, oil and gas, and marine and industrial. It provides power delivery solutions for the power generation and distribution market sectors. It works with turbine manufacturers, engine-generator manufacturers and dealers, engineering, procurement and construction (EPC) firms, and high voltage service companies to provide electric power delivery products and solutions. It designs, manufactures, commissions and maintains its equipment for implementation in base-load, peaking power, cogeneration and substation transmission facilities across the world. It provides power delivery solutions for the upstream, midstream and downstream oil and natural gas sectors. Its industrial markets include non-oil and gas industrial markets, such as steel, paper, heavy commercial, and other non-oil and gas applications.