share_log

8-K: Announcement of Resolutions of Extraordinary General Meeting of Shareholders

SEC ·  Aug 3, 2024 04:37

Summary by Futu AI

Applied DNA Sciences held a special meeting of stockholders on August 2, 2024, which failed to achieve the required quorum. Only 4,056,202 shares of common stock were present in person or by proxy, falling short of the majority requirement stipulated in the Company's By-Laws. As a result, no action was taken on the proposed matters and the meeting was adjourned.The meeting was particularly significant as it aimed to obtain stockholder approval for the exercise of Series A and B common stock purchase warrants, issued through a public offering that closed on May 29, 2024. Per Nasdaq Capital Market rules and warrant terms, these Series Warrants cannot be exercised without stockholder approval. The company is now obligated to schedule another stockholder meeting to seek the required Warrant Stockholder Approval.
Applied DNA Sciences held a special meeting of stockholders on August 2, 2024, which failed to achieve the required quorum. Only 4,056,202 shares of common stock were present in person or by proxy, falling short of the majority requirement stipulated in the Company's By-Laws. As a result, no action was taken on the proposed matters and the meeting was adjourned.The meeting was particularly significant as it aimed to obtain stockholder approval for the exercise of Series A and B common stock purchase warrants, issued through a public offering that closed on May 29, 2024. Per Nasdaq Capital Market rules and warrant terms, these Series Warrants cannot be exercised without stockholder approval. The company is now obligated to schedule another stockholder meeting to seek the required Warrant Stockholder Approval.

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