Summary by Futu AI
Cingulate Inc. has announced a Special Meeting of Stockholders to be held virtually on July 30, 2024. The primary agenda for the meeting is to seek stockholder approval for a reverse stock split of the company's issued common stock, with a proposed ratio range from one-for-two (1:2) to one-for-fifteen (1:15), to be determined by the Board of Directors. The reverse stock split is intended to avoid delisting from Nasdaq due to non-compliance with the $1.00 Minimum Bid Price requirement. The Board has fixed June 14, 2024, as the record date for stockholders entitled to vote. The company has emphasized the importance of stockholder votes, urging them to vote electronically or by proxy, even if they plan to attend the virtual meeting. Additionally, the meeting will consider the approval of adjourning the Special Meeting to a later date if necessary to solicit further votes for the reverse stock split proposal. The proxy materials for the Special Meeting are available online, and the company has provided instructions for voting and revoking proxies.