authorised. so they have the ability to issue them when the time comes with the right partnerships. They had got close to being fully issued after their $4Bn raise when the share price was at $60 which was in hindsight the best decision made by the board. Annual meetings (or special meetings) are needed to increase the authorised shares. Once authorised the board can then do with them what they want - give to someone in a partnership, put up as an ATM for gradual dilution, sell to a private investor. for quick cash etc.
Some companies have had problems getting these motions passed - NIkola postponed the meeting 3 times I think last year to get the share increase they desperately needed.
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