Summary by Futu AI
On July 30, 2024, Cingulate Inc., a Delaware-incorporated company listed on the Nasdaq Capital Market, held a Special Meeting of Stockholders to vote on two key proposals. The first proposal, which was adopted and approved by the stockholders, was an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's issued shares of common stock. The approved ratio ranges from one-for-two (1:2) to one-for-fifteen (1:15), to be determined by the Board of Directors within a year from the meeting date, without further stockholder approval. The second proposal, which was to adjourn the Special Meeting to a later date if necessary, was rendered unnecessary as there were sufficient votes to approve the Reverse Split Proposal at the time of the meeting. The voting results showed a significant majority in favor of the reverse stock split, with 3,458,756 votes for, 885,007 against, and 28,939 abstentions. The adjournment proposal received 3,469,676 votes for, 488,360 against, and 414,666 abstentions.
