18 April 2023 | Tuesday | News
Due to the lack of quorum, the Special Meeting was adjourned to allow additional time for the Company’s stockholders to vote on the proposal to approve an amendment to the Company’s certificate of incorporation to effect a reverse stock split of the outstanding shares of its common stock at a ratio of not less than one-for-two (1:2) and not more than one-for-twenty-five (1:25), with the exact ratio to be set at a whole number within this range as determined by our Board of Directors. At the Special Meeting, the stockholders are also being asked to approve a proposal to adjourn the Special Meeting, if necessary, to solicit additional proxies for approval of the reverse split proposal, in the event that there are not sufficient votes at the time of the Special Meeting to approve such proposal.
The Special Meeting has been scheduled to reconvene on April 19, 2023 at 3:00 p.m. Central time at the offices of Maslon LLP, 3300 Wells Fargo Center, 90 South Seventh Street, Minneapolis, MN 55402. During the period of the adjournment, the Company will continue to solicit proxies from its stockholders with respect to the proposals being considered.
Only stockholders of record as of the record date, March 28, 2023, are entitled to and are being requested to vote at the Special Meeting. Proxies previously submitted in respect of the Special Meeting will be voted at the reconvened meeting unless properly revoked, and stockholders who have previously submitted a proxy or otherwise voted need not take any action.
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