Outlook Therapeutics closes $33.1M convertible note, increases authorized shares to 260M

Outlook Therapeutics, Inc.

Issued $33.1M convertible note to Avondale Capital on March 13, 2025; proceeds used to repay $32.91M Streeterville note.
Stockholders approved increase in authorized common shares from 60M to 260M, effective March 11.
Annual Meeting elected directors: Julian Gangolli, Ralph Thurman, Lawrence Kenyon to Class III.
Stockholders approved potential issuance of >19.99% of outstanding common stock upon note conversion.
Ratified KPMG as auditor for FY2025; advisory say-on-pay passed.

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

Outlook Therapeutics, Inc.: Increased authorized shares of common stock from 60,000,000 to 260,000,000 (effective 2025-03-11).

Change: charter amendment
Effective: 2025-03-11

Exact text from the filing

the Company’s stockholders approved an amendment to the Company’s Restated Certificate of Incorporation to increase the authorized number of shares of the Company’s common stock from 60,000,000 to 260,000,000 shares. The increase in the authorized number of shares of the Company’s common stock was effected pursuant to a Certificate of Amendment of the Restated Certificate of Incorporation (the “Certificate of Amendment”) filed with the Secretary of State of the State of Delaware on March 11, 2025 and was effective as of such date.

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Outlook Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-25-003013

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