Processa Pharma shareholders approve reverse stock split at ratio up to 1:30

Processa Pharmaceuticals, Inc.

Shareholders approved reverse stock split at ratio between 1:5 and 1:30, board to set exact ratio.
Votes: 13,895,377 for, 1,341,351 against, 21,455 abstain; 62% quorum of outstanding shares.
Reverse split must be executed by March 18, 2024, at board's discretion.
Adjournment proposal also approved but not needed since main proposal passed.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Processa Pharmaceuticals, Inc. shareholders approved grant the Board of Directors discretionary authority to amend the Company’s Fourth Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s outstanding common stock, $0.0001 par value per share, at a ratio of not less than 1-for-5 and not more than 1-for-30 at the 2023-11-14 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-11-14

Exact text from the filing

Non-Vote 13,895,377 1,341,351 21,455 - Proposal 2: Adjournment Proposal Shares For Against Abstain Broker

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

Processa Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-041422

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