Summary by Moomoo AI
On January 9, 2024, Avenue Therapeutics, Inc. reported a significant corporate action through a Form 8-K filing with the SEC. The company's shareholders approved an increase in authorized common stock from 75 million to 200 million shares. This increase, known as the Authorized Share Increase, was formalized by an amendment to the company's Third Amended and Restated Certificate of Incorporation filed with the Delaware Secretary of State. Additionally, shareholders authorized the issuance of shares underlying warrants that could exceed 20% of the pre-issuance outstanding common stock, in compliance with Nasdaq Listing Rule 5635(d). These warrants were part of inducement letter agreements dated January 5, 2024. The consent for these actions was provided by holders of a majority of the voting power, representing approximately 56.4% of the capital stock as of the consent date. The company's Board of Directors also approved these measures. A Schedule 14C information statement will be distributed to shareholders, as required by SEC rules.