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Exicure, Inc. Announces Adjournment of Annual Meeting of Stockholders
CHICAGO--(BUSINESS WIRE)-- Exicure, Inc. (NASDAQ: XCUR), an early-stage biotechnology company focused on the development of next generation nucleic acid
About this update from Exicure, Inc.
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nExicure, Inc. (NASDAQ: XCUR), an early-stage biotechnology company focused on the development of next generation nucleic acid therapies targeting RNA to address both genetic and non-genetic neurological disorders and hair loss disorders, today announced that the Company’s Annual Meeting of Stockholders (the “Annual Meeting”) held in virtual format on Friday, May 27, 2022 at 1:00 p.m. Central Time, was convened and adjourned until June 10, 2022 at 1:00 p.m. Central Time without any business being conducted. The Company adjourned the Annual Meeting for the purpose of allowing additional time for stockholders to vote on Proposal 3, described below and as set forth in the Company’s proxy statement for the Annual Meeting, filed with the Securities and Exchange Commission on April 12, 2022 (the “Proxy Statement”). The business scheduled for the re-convened meeting remains the same as set forth in the Proxy Statement.\n\nAt the re-convened meeting, stockholders of the Company will consider and vote to (i) elect the two (2) nominees for director named in the Proxy Statement to hold office until the 2025 Annual Meeting of Stockholders or until their successors are duly elected and qualified (Proposal 1); (ii) ratify the selection by the Audit Committee of the Board of Directors of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022 (Proposal 2); (iii) approve an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s common stock at a ratio in the range of 1-for-10 to 1-for-30, with such ratio to be determined in the discretion of the Board of Directors (Proposal 3); and (iv) conduct any other business properly brought before the Annual Meeting or any adjournments or postponements thereof.\n\nIf you have already voted your shares, you do not need to vote again and we thank you for your support. If you have voted against Proposal 3 or abstained, we urge you to reconsider your vote, and vote in favor of Proposal 3. The Board of Directors believes the proposed reverse stock split is in the best interests of the Company’s stockholders as it enables the Company to reestablish compliance with Nasdaq’s minimum bid price requirement, however there is no guarantee that it will maintain...