Summary by Moomoo AI
ZyVersa Therapeutics, Inc. has announced a special meeting of stockholders to be held virtually on April 17, 2024. The primary agenda is to seek approval for a reverse stock split of issued common stock at a ratio between 1-for-2 and 1-for-50, at the board's discretion, without further stockholder approval. This move aims to avoid delisting from Nasdaq, attract brokerage firms and investors, and facilitate future financings. The company also seeks approval to adjourn the meeting if necessary to solicit more votes for the reverse stock split. The record date for determining stockholders eligible to vote is March 5, 2024. The company encourages stockholders to vote by proxy prior to the meeting, with detailed voting instructions provided. The reverse stock split is intended as a recapitalization for tax purposes, with no gain or loss recognized by the company or stockholders. The board recommends voting 'FOR' both the reverse stock split and the potential adjournment.