Novo Integrated Sciences reduces stockholder meeting quorum to one-third

Novo Integrated Sciences, Inc.

Board adopted bylaw amendment reducing quorum to 33⅓% of outstanding shares entitled to vote.
Based on 149,184,184 shares outstanding, quorum is now 49,723,089 shares.
Director election requires majority of votes present; other proposals require majority of votes present and entitled, with abstentions counting as against.
Reduced quorum may allow passage of proposals with fewer affirmative votes than previously required.

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

Novo Integrated Sciences, Inc.: Reduced quorum requirement at stockholder meetings from a majority to one-third of outstanding voting stock (effective 2023-09-27).

Change: bylaw amendment
Effective: 2023-09-27

Exact text from the filing

On September 27, 2023, the Board of Directors of Novo Integrated Sciences, Inc. (the “Company”) adopted an amendment (the “Amendment”) to the Company’s bylaws that had the effect of reducing the quorum at all meetings of the Company’s stockholders for the transaction of business, except as otherwise provided by statute or by the Company’s articles of incorporation, as amended, to one-third (331⁄3%) of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy (the “Reduced Quorum Requirement”).

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Source: SEC EDGAR

accession 0001493152-23-034436

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