Company: BOLT
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0000950170-25-054294
Chunk: 38

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 38
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 by the Board for the Reverse Stock Split. No Fractional Shares No fractional shares of common stock will be issued as a result of the Reverse Stock Split. Instead, stockholders who otherwise would be entitled to receive fractional shares will be entitled to receive cash in an amount equal to the product obtained by multiplying (i) the closing sales price of the common stock as reported on the Nasdaq Capital Market on the effective date of the certificate of amendment to the certificate of incorporation by (ii) the number of shares of common stock held by such stockholder before the Reverse Stock Split that would otherwise have been exchanged for such fractional share interest. Holders of as many as 24 shares (if we were to implement a 1-for-25 Reverse Stock Split) of common stock would be eliminated as a result of the cash payment in lieu of any issuance of fractional shares or interests in connection with the Reverse Stock Split. The exact number by which the number of holders of the common stock would be reduced will depend on the Reverse Stock Split ratio adopted and the number of stockholders that hold less than the Reverse Stock Split ratio as of the effective date of the Reverse Stock Split. As of the Record Date, there were approximately 13 holders of record

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of the common stock. As a result of the Reverse Stock Split, assuming the maximum Reverse Stock Split ratio of 1-for-25 were selected, we estimate that the number of holders of record would remain at approximately 13.

Certain Risks Associated with the Reverse Stock Split

Before voting on this Proposal 3, stockholders should consider the following risks associated with effecting a Reverse Stock Split:

Although we expect that a Reverse Stock Split will result in an increase in the market price of the common stock, we cannot assure you that a Reverse Stock Split will increase the market price of the common stock in proportion to the reduction in the number of shares of the common stock outstanding or result in a permanent increase in the market price. The effect that a Reverse Stock Split may have upon the market price of the common stock cannot be predicted with any certainty, and the history of similar reverse stock splits for companies in similar circumstances to ours is varied. The market price of the common stock is dependent on many factors, including our business and financial performance, general market conditions, prospects for future growth and other factors detailed from time to time in the reports we file with the Securities Exchange Commission (the “SEC”). Accordingly, the total market capitalization of the common stock after a Reverse Stock Split