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Vistagen Announces Results of Voting from 2022 Annual Meeting of Stockholders and Partial Adjournment to October 28, 2022
Annual Meeting to resume October 28, 2022 to vote on Proposal No. 5 to provide Vistagen’s Board of Directors the option to implement a future reverse stock
About this update from Vistagen Therapeutics, Inc.
[{"type":"text","content":"\nAnnual Meeting to resume October 28, 2022 to vote on Proposal No. 5 to provide Vistagen’s Board of Directors the option to implement a future reverse stock split of the Company’s issued and outstanding common stock, if necessary to maintain the Company’s listing on the Nasdaq Capital Market, and Proposal No. 6 to allow for an amendment to the Company’s Bylaws\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nVistagen Therapeutics, Inc. (Nasdaq: VTGN) (the Company), a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other central nervous system (CNS) disorders, today announced results of voting and the partial adjournment of the Company’s 2022 Annual Meeting of Stockholders (the Annual Meeting) to Friday, October 28, 2022. Four of the six proposals described in the Company's definitive proxy statement for the Annual Meeting that was filed with the Securities and Exchange Commission (SEC) on August 31, 2022 (the Proxy Statement) were submitted for a vote and stockholders (i) elected each of the director nominees presented in Proposal No. 1, (ii) approved, on an advisory basis, of the compensation paid to the Company’s named executive officers (Say-on-Pay) in Proposal No. 2, (iii) advised that the Company hold a Say-on-Pay vote every year in Proposal No. 3 and (iv) ratified the appointment of WithumSmith+Brown, PC as the Company’s independent registered public accounting firm for the year ending March 31, 2023 in Proposal No. 4. The Annual Meeting was then adjourned to provide the Company with additional time to solicit and collect proxies in favor of Proposal Nos. 5 and 6. Proposal Nos. 5 and 6 have not yet received sufficient votes for approval, therefore, the Annual Meeting will be reconvened at 1:00 p.m. Pacific Time on Friday, October 28, 2022 solely with respect to Proposal Nos. 5 and 6.\n\nAs described in the Definitive Proxy Statement:\n\n\nA vote \"FOR\" Proposal No. 5 grants discretionary authority to, but does not require, Vistagen's Board of Directors (the Board) to implement a reverse stock split of the Company's issued and outstanding shares of common stock (the Reverse Split) in the future as the Board may deem necessary and advisable prior to the one-year anniversary of the Annual Meeting to, among other things, maintain...