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Panbela Therapeutics | DEF 14A: Definitive information statements

SEC announcement ·  Apr 4 16:22
Summary by Moomoo AI
Panbela Therapeutics, Inc. has announced the scheduling of a Special Meeting of Stockholders to be held virtually on May 3, 2024. The primary agenda for the meeting is to seek approval for a reverse stock split of the company's outstanding common stock, with a proposed ratio range between 1-for-10 and 1-for-45, as determined by the Board of Directors. Additionally, the meeting will consider the approval of adjournments if necessary to solicit more proxies in case there are insufficient votes for the reverse stock split proposal or in the absence of a quorum. Stockholders of record as of March 27, 2024, are entitled to vote at the meeting. The reverse stock split is intended to increase the per-share market price of Panbela's...Show More
Panbela Therapeutics, Inc. has announced the scheduling of a Special Meeting of Stockholders to be held virtually on May 3, 2024. The primary agenda for the meeting is to seek approval for a reverse stock split of the company's outstanding common stock, with a proposed ratio range between 1-for-10 and 1-for-45, as determined by the Board of Directors. Additionally, the meeting will consider the approval of adjournments if necessary to solicit more proxies in case there are insufficient votes for the reverse stock split proposal or in the absence of a quorum. Stockholders of record as of March 27, 2024, are entitled to vote at the meeting. The reverse stock split is intended to increase the per-share market price of Panbela's common stock to meet the minimum bid price requirements for listing on a national securities exchange and to avoid classification as a 'penny stock.' The company's common stock was suspended from trading on Nasdaq on March 7, 2024, and is currently quoted on the OTC Pink market. The Board has unanimously approved the reverse stock split proposal and recommends stockholders to vote in favor. The proxy statement and related materials are available online, and stockholders may vote by internet, telephone, or mail prior to the meeting.

This announcement is a separate document:

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