Ampio declares Series D Preferred stock dividend with super voting rights tied to reverse split

Ampio Pharmaceuticals, Inc.

Board declared a dividend of 1/1000th share of Series D Preferred per common share; record date June 8, 2023.
Each share of Series D Preferred has 1,000,000 votes, but only on reverse stock split proposals; vote mirrors common vote.
Shares not present at reverse-split meeting automatically redeemed for $0.01 per 10 shares if certain conditions met.
Bylaws amended to reduce quorum at stockholder meetings from majority to one-third of outstanding shares.

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

Ampio Pharmaceuticals, Inc.: Amended bylaws to change quorum requirement at stockholder meetings from a majority to one-third of outstanding shares (effective 2023-05-24).

Change: bylaw amendment
Effective: 2023-05-24

Exact text from the filing

On May 24, 2023, the board of directors the (“Board”) of Ampio Pharmaceuticals, Inc. (the “Company”), adopted and approved an amendment to the Company’s Amended and Restated Bylaws (the “ Bylaws Amendment ”) in order to change the proportion of shares present required to constitute a quorum at a meeting of stockholders, from a majority to one-third of the outstanding shares of stock entitled to vote.

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Source: SEC EDGAR

accession 0001558370-23-010552

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