TransCode Therapeutics Holds Special Meeting of Stockholders, Approves Key Proposals

TransCode Therapeutics, Inc. recently held a Special Meeting of Stockholders on November 22, 2024, where several crucial proposals were put forth and approved. The meeting saw stockholders address and vote on significant matters crucial to the company’s operations.

The first proposal, focused on the ratification of the company’s issuance and sale of securities through a placement agency agreement with ThinkEquity LLC, was successfully approved. Under this proposal, TransCode Therapeutics agreed to sell an aggregate of 10,000,000 shares of Common Stock and issue warrants to purchase 500,000 shares of Common Stock to Think.

The second key proposal involved the approval of an amendment to the company’s Amended and Restated Certificate of Incorporation to facilitate a reverse stock split of the company’s outstanding shares of Common Stock. The reverse stock split ratio, ranging from 1-for-10 to 1-for-40, was, as per the proposal, subject to the discretion of the Board of Directors.

Lastly, the third proposal pertained to the approval of an adjournment of the Special Meeting if there were insufficient votes to pass the prior proposals effectively.

The details of these proposals were extensively outlined in the company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on October 28, 2024.

During the Special Meeting, which saw 17,265,658 shares of Common Stock eligible to vote, a robust participation of 9,480,060 shares either present or represented by valid proxy was recorded. Importantly, all proposals brought before the stockholders were met with approval.

The voting breakdown showcased substantial support for the proposals. The Ratification Proposal received 3,659,491 votes in favor, 1,094,753 votes against, with 70,611 votes abstained, and 4,655,205 broker non-votes. Similarly, the Reverse Stock Split Proposal and Adjournment Proposal garnered approval with 7,271,421 and 7,738,700 votes in favor, respectively.

Given the resounding support and successful voting outcomes observed during the Special Meeting, the company is set to progress with the approved proposals in line with its strategic objectives.

TransCode Therapeutics, Inc. continues to navigate its course effectively, guided by the decisions made at this pivotal Special Meeting of Stockholders.

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

TransCode Therapeutics Company Profile

TransCode Therapeutics, Inc, a ribonucleic acid (RNA) oncology company, focuses on the development and commercialization of drugs and diagnostics for treating and identifying various cancers. Its lead therapeutic candidate is TTX-MC138 that targets microRNA-10b, a master regulator of metastatic cell viability in a range of cancers, including breast, pancreatic, ovarian, colon cancer, glioblastomas, and others.