Avenue Therapeutics stockholders approve reverse stock split in range 30:1 to 75:1

AVENUE THERAPEUTICS, INC.

Majority of voting power executed written consent on March 6, 2024, approving reverse stock split.
Board authorized to determine exact ratio between 30-for-1 and 75-for-1.
Holders of approximately 56% of voting power signed consent.
Schedule 14C information statement to be filed with SEC and sent to stockholders.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

AVENUE THERAPEUTICS, INC. shareholders approved Reverse stock split within a range of between 30-for-1 and 75-for-1 at the 2024-03-06 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-03-06

Exact text from the filing

Effective March 6, 2024, the holders of a majority of the voting power of the capital stock of Avenue Therapeutics, Inc. (the “ Company ”) executed a written consent approving a grant of discretionary authority to the board of directors of the Company (the “ Board ”) to, without further stockholder approval, effect a reverse stock split of the Company’s issued and outstanding common stock within a range of between 30-for-1 and 75-for-1 (with the Board being authorized to determinate the exact ratio) (the “ Reverse Stock Split ”) by filing an amendment (the “ Amendment ”) to the Company’s Third Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware.

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Source: SEC EDGAR

accession 0001104659-24-032401

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