Item 5.07. Submission of Matters to a Vote of Security Holders.
On
At the meeting, the Company's stockholders approved Proposal 2, which sought approval to adjourn the Special Meeting, if necessary, in the reasonable discretion of the Chief Executive Officer and President of the Company, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the amendment proposal (Proposal 1). The final voting results for Proposal 2 were as follows:
For Against Abstain 42,129,367 7,186,859 547,322
At the time of the Special Meeting, there were insufficient votes to pass
Proposal 1, which sought approval to amend the Company's Restated Certificate of
Incorporation to effect a reverse stock split of the Company's common stock and
reduce the authorized shares of common stock at a ratio of 1-for-25, if and when
determined by the Company's board of directors. In accordance with the authority
granted pursuant to the approval of Proposal 2, the Special Meeting was
adjourned to allow additional time for voting with respect to Proposal 1. The
Special Meeting will reconvene on
The Company will file additional proxy materials with information regarding the reconvened Special Meeting and the new record date. During the period of adjournment, the Company will continue to accept stockholder votes on Proposal 1.
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