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Second Sight Medical Products, Inc. Announces Shareholder Approval for Proposed Merger with Nano Precision Medical, Inc. and other Results of 2022 Annual Meeting
Second Sight to change its name to Vivani Medical, Inc. LOS ANGELES--(BUSINESS WIRE)-- Second Sight Medical Products, Inc. (NASDAQ: EYES) (the “Company” or
About this update from Vivani Medical, Inc.
[{"type":"text","content":"\nSecond Sight to change its name to Vivani Medical, Inc.\n\n LOS ANGELES--(BUSINESS WIRE)--\nSecond Sight Medical Products, Inc. (NASDAQ: EYES) (the “Company” or “Second Sight”), a leading developer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, today announced results of its annual meeting held on July 27, 2022, where the quorum was present. The formal results of the vote are included in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission.\n\nAt the annual meeting, the shareholders voted on seven proposals: (1) approving the merger agreement with Nano Precision Medical, Inc. (“NPM”) and the transactions contemplated thereby, including the merger, the issuance of new shares, and change of control resulting from the merger, (2) approving a reverse stock split in a range, as determined by the Company’s Board of Directors, of 1:2 to 1:10, (3) changing the Company’s name to Vivani Medical, Inc., (4) electing six members of the Board of Directors, (5) approving the 2022 Omnibus Plan, (6) ratifying the appointment of BPM, LLP as Second Sight’s independent registered public accounting firm for 2022, (7) considering and voting upon an adjournment of the Second Sight annual meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of the foregoing proposals. The Board of Directors of the Company unanimously approved each of the Proposals and recommended that the shareholders approve each of the Proposals up for vote at the meeting. The results are:\n\nProposal 1: the shareholders approved the Merger Agreement and thereby approved the transactions contemplated thereby, including the merger, the issuance of the merger shares, and the change of control resulting from the merger, as follows:\n\n\n\nVotes For\n\n\n\nVotes Against\n\n\n\nVotes Abstained\n\n\n\nBroker Non-Votes\n\n\n\n\n\n20,025,356\n\n\n\n420,406\n\n\n\n157,720\n\n\n\n7,018,166\n\n\n\n\nProposal 2: the shareholders approved an amendment to the Second Sight Restated Articles of Incorporation, as amended, to effect a reverse stock split of Second Sight’s common stock, within a range, as determined by Second Sight’s board of directors, of one new share for every 2 to 10 (or any number in between) shares outstanding, as follows:...