other_material
confidence high
sentiment neutral
materiality 0.65
Scienture shareholders reject 20x authorized share increase; approve reverse split and equity plan
Scienture Holdings, Inc.
- Proposal to boost authorized common shares from 100M to 2B and preferred from 10M to 200M was rejected (5.3M for, 5.5M against).
- Approved amendment to 2019 Plan increasing pool from 5M to 25M shares (5.6M for, 5.2M against).
- Approved potential future offering >20% of outstanding at below minimum price under Nasdaq Rule 5635(d) (5.6M for, 5.2M against).
- Board granted discretion to effect reverse stock split between 1:2 and 1:50 (6.3M for, 4.7M against).
- All five director nominees elected with >9.4M votes each; no broker non-votes for Proposal 5.
item 5.07item 9.01