Business
Moleculin Announces Adjournment of 2023 Annual Meeting to June 15, 2023
- Company urges shareholders of record date, March 27, 2023, to vote your shares immediately if you have not already done so HOUSTON, May 30, 2023
About this update from Moleculin Biotech, Inc.
[{"type":"text","content":"- Company urges shareholders of record date, March 27, 2023, to vote your shares immediately if you have not already done so \nHOUSTON, May 30, 2023 /PRNewswire/ -- Moleculin Biotech, Inc., (Nasdaq: MBRX) (\"Moleculin\" or the \"Company\"), a clinical stage pharmaceutical company with a growing pipeline, including Phase 2 clinical programs, for hard-to-treat tumors and viruses, today announced that its annual meeting of stockholders (the \"Annual Meeting\") scheduled for and convened on Thursday, May 25, 2023 has been partially adjourned to Thursday, June 15, 2023 at 10:30 a.m. Eastern Time.\n\n \n \n \n \n \n \n\n \nA quorum was present at last week's Annual Meeting, and Proposals 1 (election of directors), 2 (appointment of auditors), 3 (amendments to the 2015 Stock Plan), and 4 (executive compensation), put forth in the definitive proxy statement received the requisite votes for approval. The Company's stockholders also approved Proposal 8 (adjournment of the Annual Meeting) for the purpose of continuing to solicit votes in favor of Proposal 5 (reverse stock split). The Company's stockholders did not approve Proposal 6 (authorized share increase) or Proposal 7 (amendment to the Company's amended and restated certificate of incorporation).\nWith over 64% of all shares voted, Moleculin stockholders are in favor of the reverse split proposal. Results of votes cast \"FOR\" Proposal 5 to-date are 74% of the total voted shares. Additionally, both of the leading proxy advisory firms (Glass Lewis and ISS) have recommended that stockholders vote \"FOR\" the Proposal 5. With a clear plurality of the vote in favor of Proposal 5 and strong, independent third-party support for this proposal, the Company is allowing additional time for stockholders holding approximately 34% of the shares that have yet to be voted the opportunity to express their views. Proposal 5 requires a majority of all shares outstanding to vote \"FOR\" the measures, not just a plurality of the vote.\n\"We appreciate the strong support we have received from Moleculin's voting stockholders to date. As we continue to progress and position ourselves for an exciting year of data, we are also focused on maintaining our Nasdaq listing and utilizing all tools to position ourselves for success,\" commented Walter Klemp, Chairman and Chief Executive Officer of Moleculin. \"Thro...