Solid Biosciences stockholders approve share issuance for AavantiBio merger and amended equity plan

Solid Biosciences Inc.

Stockholders approved issuance of shares for the acquisition of AavantiBio under the Merger Agreement (4,054,470 for, 41,480 against).
Approved amended 2020 Equity Incentive Plan, increasing share reserve by 866,666 to 1,533,333 shares plus annual evergreen 5% of outstanding shares.
Equity plan proposal passed with 3,480,064 for and 614,534 against.
Annual increase feature begins fiscal year 2023 up to fiscal 2032 at Board discretion.
Approval removes key condition for closing the AavantiBio acquisition.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Solid Biosciences Inc. shareholders approved To approve issuance of shares pursuant to the Merger Agreement and Securities Purchase Agreements.

Proposal: merger approval
Outcome: passed

Exact text from the filing

1. The Share Issuance Proposal . To consider and vote upon a proposal to approve, for purposes of Nasdaq Listing Rule 5635, the issuance of shares of the Company’s common stock pursuant to the terms of the Agreement and Plan of Merger, dated September 29, 2022, by and among the Company, Greenland Merger Sub LLC, AavantiBio and, solely in his capacity as equityholder representative, Doug Swirsky (the “Merger Agreement”) and the Securities Purchase Agreements, dated September 29, 2022, by and among the Company and several accredited investors named therein (the “Securities Purchase Agreement”) (such proposal, the “Share Issuance Proposal”). Votes For Votes Against Abstentions 4,054,470 41,480 7,054

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Solid Biosciences Inc. shareholders approved To approve the adoption of the Amended and Restated 2020 Plan to increase the number of shares issuable thereunder.

Proposal: equity plan
Outcome: passed

Exact text from the filing

2. The Equity Incentive Plan Proposal . To consider and vote upon a proposal to approve the adoption of the Amended and Restated 2020 Plan to, among other things, increase the number of shares issuable thereunder. Votes For Votes Against Abstentions 3,480,064 614,534 8,406

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Source: SEC EDGAR

accession 0001193125-22-296577

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