8-K
filed August 11, 2023, 7:59 PM ET
CIK 0001183765
other material
confidence high
sentiment neutral
materiality 0.55
Molecular Templates implements 1-for-15 reverse stock split to regain Nasdaq compliance
Molecular Templates, Inc.
- Reverse split ratio set at 1-for-15; effective after market close Aug 11, 2023.
- Outstanding shares reduced from ~80.6M to ~5.37M; authorized shares unchanged.
- Split intended to raise per-share price above Nasdaq minimum bid requirement.
- No fractional shares issued; cash paid in lieu at adjusted closing price.
- CUSIP changed to 608550 208; ticker remains MTEM.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Molecular Templates, Inc.: Amendment to Amended and Restated Certificate of Incorporation to effect a 1-for-15 reverse stock split (effective 2023-08-11).
- Change
- charter amendment
- Effective
- 2023-08-11
Exact text from the filing
On August 11, 2023, the Company filed with the Secretary of State of the State of Delaware the Certificate of Amendment to effect a one-time reverse stock split of the Company’s common stock, at a ratio of 1-for-15 (the “Reverse Stock Split”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Molecular Templates, Inc. shareholders approved Adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt Proposal 1 at the 2023-08-11 meeting.
- Outcome
- passed
- Meeting
- 2023-08-11
Exact text from the filing
The Company’s stockholders approved an adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt Proposal 1. Votes For Votes Against Votes Abstained 60,808,141 1,133,153 15,657
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Molecular Templates, Inc. shareholders approved Amendment to Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio of not less than 1-for-4 and not more than 1-for-25, with exact ratio set within that range at Board discretion at the 2023-08-11 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-08-11
Exact text from the filing
The Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split at a ratio of not less than 1-for-4 and not more than 1-for-25, with the exact ratio to be set within that range at the discretion of the Company’s Board of Directors (the “Board”) without further approval or authorization of the Company’s stockholders and with the Board able to elect to abandon such proposed amendment and not effect the reverse stock split authorized by stockholders, in its sole discretion. Votes For Votes Against Votes Abstained 61,031,261 1,497,306 4,414
View on SEC.gov
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