MEI Pharma terminates merger with Infinity after stockholder vote fails

Lite Strategy, Inc.

Stockholders voted against merger: 47.86% for, 51.44% against; turnout 59.70% of outstanding shares.
MEI terminated the Merger Agreement with Infinity on July 23, 2023, effective immediately.
Company will continue development of Voruciclib and ME-344; clinical data expected around year-end.
CEO David M. Urso stated focus on capturing stockholder value from pipeline programs.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Lite Strategy, Inc. shareholders rejected Proposal to consider and vote upon the proposal to approve, for purposes of Nasdaq Listing Rule 5635(a), of the issuance of shares of MEI Common Stock to stockholders of Infinity pursuant to the terms of the Merger Agreement at the 2023-07-23 meeting.

Proposal: merger approval
Outcome: failed
Meeting: 2023-07-23

Exact text from the filing

Proposal No. 1 – Proposal to consider and vote upon the proposal to approve, for purposes of Nasdaq Listing Rule 5635(a), of the issuance of shares of MEI Common Stock, $0.00000002 par value per share, to stockholders of Infinity pursuant to the terms of the Merger Agreement, was as follows: For Against Abstain 1,903,448 2,046,283 27,986

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Lite Strategy, Inc. shareholders rejected Proposal to consider and vote upon the proposal to approve the adjournment of the Special Meeting, from time to time, if necessary or appropriate, including to solicit additional proxies in the event that there are insufficient votes at the time of the Special Meeting or any adjournment or postponem at the 2023-07-23 meeting.

Outcome: failed
Meeting: 2023-07-23

Exact text from the filing

Proposal No. 2 – Proposal to consider and vote upon the proposal to approve the adjournment of the Special Meeting, from time to time, if necessary or appropriate, including to solicit additional proxies in the event that there are insufficient votes at the time of the Special Meeting or any adjournment or postponement thereof to approve Proposal No. 1, was as follows: For Against Abstain 1,926,950 2,014,469 36,298

View on SEC.gov

352 shareholder votes filed in the last 30 days. Browse all shareholder votes →

Lite Strategy, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-191945

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