Tonix Pharmaceuticals Shareholders Approve Reverse Stock Split Proposal, Reject Amendment Increase –

Tonix Pharmaceuticals Holding Corp. disclosed on October 30, 2024, that at a special virtual meeting of shareholders held on the same day, shareholders voted on and approved one out of two proposals. The shareholders, representing 35.9% of the company’s outstanding common stock as of the September 12, 2024 record date, voted by proxy at the Special Meeting.

The first proposal, known as the Reverse Stock Split Proposal, was approved by the shareholders. This proposal authorizes the Company’s Board of Directors to execute a reverse stock split of outstanding shares of common stock within one year after obtaining shareholder approval. The ratio of the reverse split will be determined by the Board, ranging from not less than one-for-two (1:2) to not greater than one-for-hundred (1:100). The detailed voting results for this proposal indicate that 27,837,482 votes were cast in favor, with 17,650,844 votes against and 376,316 abstentions.

On the other hand, the second proposal put forward to amend the Company’s Articles of Incorporation to increase the authorized shares of common stock to 1,000,000,000 in the event of a reverse stock split was not approved by the shareholders. The voting results for this proposal showed 26,250,227 votes for, 19,279,315 against, and 335,100 abstentions.

The specific details of these proposals were outlined in the proxy statement released by the Company on September 23, 2024, following the regulations of Section 14(a) of the Securities Exchange Act of 1934. Tonix Pharmaceuticals Holding Corp., a company listed on The NASDAQ Capital Market under the trading symbol TNXP, is based in Chatham, New Jersey.

The Company, led by Chief Financial Officer Bradley Saenger, has duly filed this report with the Securities and Exchange Commission in compliance with the Securities Exchange Act of 1934.

That concludes the update on Tonix Pharmaceuticals Holding Corp.’s recent shareholder decisions regarding the proposed reverse stock split and the related amendment increase. Investors and stakeholders will be closely watching the company’s next steps following these crucial voting outcomes.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tonix Pharmaceuticals’s 8K filing here.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.