Nanophase Technologies Corporation Increases Authorized Shares from 60,000,000 to 95,000,000

On June 18, 2024, Nanophase Technologies Corporation (OTCMKTS:NANX) convened a Special Meeting of Shareholders. During this meeting, the shareholders voted in favor of amending the company’s Certificate of Incorporation to enhance the number of authorized shares of common stock from 60,000,000 to 95,000,000. The decision to increase the authorized shares was approved by the Company’s Board of Directors and later received the nod from the shareholders at the Special Meeting.

Following the shareholder approval, Nanophase Technologies Corporation promptly filed the Certificate of Amendment with the Secretary of State of the State of Delaware on June 19, 2024. This filing led to the immediate effect of the Certificate of Amendment upon submission.

While the specifics of the Certificate of Amendment have not been fully outlined in this report, interested parties can refer to the complete text of the Certificate of Amendment, which has been submitted as Exhibit 3.1 to the current 8-K filing with the Securities and Exchange Commission and is available for reference.

During the Special Meeting, held on June 18, 2024, shareholders reviewed Proposal 1, which called for the augmentation of the number of authorized shares of common stock. A significant majority, representing approximately 76% of the total shares entitled to vote, were either present or represented by proxy at the meeting. The final count on the voting results for Proposal 1 tallied 39,837,787 votes for, 2,008,409 votes against, and 53,488 abstentions. Notably, there were no broker non-votes recorded for this matter.

In accordance with the voting outcome, with resounding approval from shareholders, Nanophase Technologies Corporation successfully amended its Certificate of Incorporation to elevate the authorized shares of common stock from 60,000,000 to 95,000,000.

In line with regulatory requirements, Nanophase Technologies Corporation has provided the Certificate of Amendment to the Company’s Certificate of Incorporation as an official exhibit (Exhibit 3.1) to the current 8-K filing. Additionally, a Cover Page Interactive Data File (embedded within the Inline XBRL document) has been included as Exhibit 104.

This serves as an overview of the recent developments pertaining to Nanophase Technologies Corporation’s amendment to increase its authorized shares of common stock.

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

Nanophase Technologies Company Profile

Nanophase Technologies Corporation, a science-driven company, develops, manufactures, and sells integrated family of nanomaterial technologies in the United States. It engages in engineered materials, formulation development, and commercial manufacturing. The company produces engineered nanomaterial products comprising antimony, bismuth, cerium, iron, and zinc oxide for use in a various markets, including surface finishing,exterior coatings, personal care, plastics, scratch resistant coatings, and textiles.