XBiotech Inc. received a nasdaq noncompliance notice notice regarding audit committee (rules 5605(c)(4), 5605(d)(4)).
“April 1, 2025, W. Thorpe McKenzie retired from the Company’s Board of Directors effective March 27, 2025. Independent director Jan-Paul Waldin will continue to serve as a member of the Company’s Audit Committee and Compensation Committee. The Company intends to maintain a one-member Audit Committee at this time pursuant to Rule 5605(c)(4) of the NASDAQ Listed Company Manual and a one-member Compensation Committee at this time pursuant to Rule 5605(d)(4) of the NASDAQ Listed Company Manual. On April 1, 2025, the Company notified NASDAQ regarding Mr. McKenzie’s retirement and the Company’s inten”
W. Thorpe McKenzie retired as Director at XBiotech Inc..
“On March 27, 2025, W. Thorpe McKenzie informed the Board of Directors (the “Board”) of XBiotech Inc. (the “Company”) via letter of his decision to retire from the Board, effective immediately.”
Debt Financings
XBiotech Inc. incurred loan of $10 million with John Simard at eight percent per year.
“On January 3, 2024, XBiotech Inc. (“XBiotech” or the “Company”) entered into a Convertible Loan Agreement (the “Loan”) with John Simard, the Company’s Founder, President, Chief Executive Officer and Chairman. The Loan provides $10 million in immediate funding for the construction of a new, state-of-the-art research and development facility at 5217 Winnebago Lane in Austin, Texas. The Loan is secured by the real estate and cash holdings of the Company, with interest to accrue at a simple rate equal to eight percent per year and interest-only payments to be made at six-month intervals after the Loan is funded.”
Material Agreements
XBiotech Inc. entered into Convertible Loan Agreement with John Simard valued at $10 million (effective 2024-01-03).
“On January 3, 2024, XBiotech Inc. (“XBiotech” or the “Company”) entered into a Convertible Loan Agreement (the “Loan”) with John Simard, the Company’s Founder, President, Chief Executive Officer and Chairman.”
Shareholder Votes
XBiotech Inc. shareholders approved Ratification of the selection of Whitley Penn LLP as the Company’s independent registered public accounting firm for the fiscal year ending 2023 at the 2023-06-23 meeting.
“Proposal #2 Ratification of the selection of Whitley Penn LLP as the Company’s independent registered public accounting firm for the fiscal year ending 2023 For Against Abstain Broker Non-Votes 10,983,720.00 51,402.00 1,615.00 0”
Shareholder Votes
XBiotech Inc. shareholders approved Election of five members of the Board of Directors at the 2023-06-23 meeting.
“The annual meeting of the stockholders of XBiotech Inc. (the “Company”) was held on June 23, 2023.”
Queena Han departed as Vice President, Finance and Human Resource at XBiotech Inc..
“Queena Han, whose employment as Vice President, Finance and Human Resource ended on February 3, 2023.”
Angela Hu was appointed as Principal Financial Officer and Principal Accounting Officer at XBiotech Inc..
“On February 10, 2023, Angela Hu, who presently serves as the Financial Controller of XBiotech Inc. (the “Company”), assumed the role as the Company’s principal financial officer and principal accounting officer.”
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