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Akebia Therapeutics Files Revised Definitive Proxy Statement for Special Stockholder Meeting
CAMBRIDGE, Mass., March 24, 2023 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of
About this update from Akebia Therapeutics, Inc.
[{"type":"text","content":"CAMBRIDGE, Mass., March 24, 2023 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, announced that it has filed a revised definitive proxy statement with the Securities and Exchange Commission (SEC) in connection with a special meeting (Special Meeting) of stockholders scheduled on April 11, 2023 at 10:00 a.m. ET in a virtual meeting format as a live webcast. Akebia is holding the Special Meeting to seek stockholder approval to, among other things, effect a reverse stock split of Akebia's common stock, which Akebia believes would allow it to regain compliance with the Nasdaq Stock Market's (Nasdaq) minimum bid price rule and avoid delisting.\n\n \n \n \n \n \n \n\n \nThe Special Meeting is being held to vote on several matters including amendments to Akebia's charter to:\neffect a reverse stock split of Akebia's outstanding common stock (Proposal 1(a));proportionally decrease the number of authorized shares of Akebia's common stock (Proposal 1(b)); andincrease by two times (2x) the resulting number of authorized shares of common stock if the amendments to effect the reverse stock split and the proportional decrease in authorized shares are effected (Proposal 2).The revised proxy statement and proxy card replace the proxy statement and proxy card previously provided on or about March 1, 2023. The prior proxy card may not be used to vote at the Special Meeting and will be disregarded. The revised proxy materials were issued to submit Proposal 1(a) and Proposal 1(b) as separate items because different voting standards apply to each proposal.\nNOTICE FOR STOCKHOLDERS: If you have already voted using the prior proxy card, you must vote again using the revised proxy card in order for your vote to be counted. \nAkebia's board of directors strongly recommends that stockholders vote \"FOR\" each of the proposals presented at the Special Meeting. Additionally, an \"Update for Stockholders\" presentation will be available via the Investors section of Akebia's website at: https://ir.akebia.com.\nIf approved by stockholders and implemented by Akebia's board of directors, a reverse stock split would be executed with the primary purpose to increase the price per share of Akebia's common stock to, among other things, enable Akebia to co...