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AquaBounty Announces Adjournment of Annual Meeting of Stockholders until May 27, 2022
MAYNARD, Mass., May 17, 2022 (GLOBE NEWSWIRE) -- AquaBounty Technologies, Inc. (NASDAQ: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture company
About this update from Aquabounty Technologies, Inc.
[{"type":"text","content":"MAYNARD, Mass., May 17, 2022 (GLOBE NEWSWIRE) -- AquaBounty Technologies, Inc. (NASDAQ: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the adjournment of its 2022 Annual Meeting of Stockholders (“Annual Meeting”), with respect to all proposals set forth in its Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission on April 14, 2022 (the “Proxy Statement”) until May 27, 2022 at 8:30 AM (Eastern Time). The Annual Meeting was convened and adjourned without any business being conducted. The Annual Meeting will resume as a virtual meeting held via live webcast on the Internet on May 27, 2022, at 8:30 AM (Eastern Time) at www.meetnow.global/MC57T9H. The record date for determining stockholders eligible to vote at the Annual Meeting will remain the close of business on March 30, 2022. During the current adjournment, the Company continues to solicit votes from its stockholders with respect to all proposals set forth in the Proxy Statement. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 63% of the Company’s shares outstanding and entitled to vote, which constituted a quorum. At the time of the Annual Meeting, votes were sufficient to approve 1 (electing eight directors to serve on the Company’s Board of Directors) and 2 (ratification of the Company’s independent registered public accounting firm), but were not sufficient to approve Proposal 3 (to approve an amendment to the Company’s Third Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of the Company’s common stock, $0.001 par value per share (“Common Stock”), from 80,000,000 to 150,000,000). Further information on Proposal 3 may be found in the Proxy Statement, as supplemented. The Company’s Board of Directors believes that the approval of Proposal 3 is in the best interests of the Company and its stockholders. In the event Proposal 3 is not approved, there may not be sufficient shares of Common Stock for the Company to raise necessary capital to continue and grow its operations. Proxies previously submitted with respect to the Annual Meeting will be voted on all proposals at the adjourned Annual Meeting unless properly revoked, a...