other_material
confidence high
sentiment negative
materiality 1.00
Iterum shareholders reject all four EGM proposals; company warns of possible wind-down
Iterum Therapeutics plc
- Shareholders voted against increasing authorized share capital (12.8M for vs 17.9M against).
- Reverse share split proposal also defeated: 13.9M for vs 16.7M against.
- Directors' allotment authority and pre-emption opt-out similarly rejected.
- Company says vote results restrict ability to raise capital, harming operations and going concern.
- Management warns of possible wind-down, bankruptcy, or liquidation; shareholders unlikely to receive distribution.