Note 12 - Stockholders' Equity

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Equity [Text Block]

12. Stockholders’ Equity

The Company has one class of capital stock: common stock. The following summarizes the terms of the Company’s capital stock.

Common Stock

Pursuant to the Company’s restated Articles of Incorporation, the Company was authorized to issue up to 1,000,000,000 shares of common stock at $0.0001 par value. There were 211,138,994 and 194,070,512 shares issued and outstanding as of  June 30, 2025 and December 31, 2024, respectively. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Company’s Board of Directors. The Company’s Board of Directors has not declared common stock dividends since inception.

Share Repurchase Program

On March 17, 2022, the Company announced that its Board of Directors authorized a new share repurchase program (the “Share Repurchase Program”) for the Company to buy back shares of its common stock for a period of three years from the date of authorization. On February 25, 2025, the Company’s Board of Directors renewed the Share Repurchase Program for an additional three years from the date of renewal. Under the Share Repurchase Program, the Company has the authority to buy up to $150 million of common stock via acquisitions in the open market or privately negotiated transactions. The Share Repurchase Program may be suspended or discontinued at any time. The Company is not obligated to make purchases of, nor is it obligated to acquire any particular amount of, common stock under the Share Repurchase Program. During the six months ended June 30, 2025, the Company repurchased and retired 1,215,323 shares at an average price of $15.60 per share. The shares were returned to the status of authorized but unissued shares. As a result, common stock amount, additional paid-in capital, and accumulated deficit in the condensed consolidated balance sheet during the six months ended June 30, 2025, were reduced by $0.0 million, $5.3 million, and $13.6 million, respectively. During the six months ended  June 30, 2024, the Company repurchased and retired 2,411,432 shares at an average price of $7.94 per share.

Public Warrants to Acquire Common Stock

On July 1, 2021, the Company issued 17,500,000 public warrants with an exercise price of $11.50. Each warrant entitles the registered holder to purchase one share of AvePoint’s common stock and the warrants are exercisable from the date of issuance through July 1, 2026.

The Company may call the public warrants for redemption as follows: (1) in whole and not in part; (2) at a price of $0.01 per warrant; (3) upon a minimum of 30 days prior written notice of redemption; and (4) only if the last reported closing price of the common stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading day period ending on the 3rd trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

On June 6, 2025, the last sales price of the Company’s Common Stock was at least $18.00 per share on each of 20 trading days within a 30-trading day period. On June 11, 2025, the Company directed its warrant agent to issue a notice of redemption to each registered holder of its outstanding public warrants stating that, pursuant to the terms of the Warrant Agreement dated September 16, 2019, it would redeem all public warrants that remained outstanding as of July 11, 2025 (the “Redemption Date”), at a redemption price of $0.01 per warrant.

During the six months ended June 30, 2025, 13,866,954 warrants were exercised, with total cash proceeds of $159.5 million. As of  June 30, 2025, 947,596 warrants remained outstanding.

Subsequent to June 30, 2025, a total of 758,100 warrants were exercised, with total cash proceeds of $8.7 million. A total of 189,496 public warrants remained unexercised on the Redemption Date, and AvePoint redeemed those warrants. Following the Redemption Date, AvePoint had no warrants outstanding.

Noncontrolling Interest

On May 30, 2025, the Company repurchased all of the remaining outstanding interest of MaivenPoint Ptd. Ltd. (“MaivenPoint”) from the remaining minority interest holders for an aggregate cash purchase price of $12.1 million. Following the repurchase of the interest, the Company is the sole interest holder of MaivenPoint. As of December 31, 2024, AvePoint owned 76.1% interest in MaivenPoint.