ProPhase Labs amends bylaws for universal proxy rules and Delaware law updates

On June 16, 2023, the board of directors (the “Board”) of ProPhase Labs, Inc. (the “Company”) amended and restated the Company’s bylaws in order to (i) address the universal proxy rules recently adopted by the U.S. Securities and Exchange Commission, by clarifying that no person may solicit proxies in support of a director nominee other than the Board’s nominees unless such person has complied with Rule 14a-19 under the Securities Exchange Act of 1934, as amended, including applicable notice and solicitation requirements and (ii) to make certain other procedural changes consistent with recent changes to the Delaware General Corporation Law.