Lipocine extends stockholder rights plan to October 2027; amends preferred stock certificate

Lipocine Inc.

Third Amended and Restated Rights Agreement extends expiration to October 22, 2027 (from November 1, 2024).
No material changes to the plan; Rights remain exercisable at $30.24 per one-thousandth of Series A Preferred.
Certificate of Amendment filed to reflect impact of May 2023 reverse stock split on preferred stock designation.
Rights become exercisable if a person acquires 15%+ of common stock; designed to deter coercive takeovers.

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

Lipocine Inc.: Filed Certificate of Amendment to Certificate of Designation of Series A Junior Participating Preferred Stock to reflect reverse stock split (effective 2024-10-22).

Change: charter amendment
Effective: 2024-10-22

Exact text from the filing

On October 22, 2024, in connection with the adoption of the Third Amended and Restated Stockholder Rights Agreement, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to the Certificate of Designation of the Series A Junior Participating Preferred Stock (the “Certificate of Amendment”) to reflect the impact of the Company’s reverse stock split effected on May 11, 2023.

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Lipocine Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-042117

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