Aptevo Therapeutics Stockholders Approve Reverse Split

Aptevo Therapeutics Inc (APVO) has released an update to notify the public and investors about the submission of matters to a vote of security holders.

Aptevo Therapeutics Inc. conducted a Special Meeting where stockholders voted in favor of three major proposals: implementing a reverse stock split of common stock at a Board-determined ratio ranging from 1-for-15 to 1-for-44, issuing more than 19.99% of outstanding common stock upon the immediate exercise of new warrants post-approval, and authorizing the adjournment of the meeting to secure additional votes if needed. The reverse stock split and new warrant issuance received majority support, rendering an adjournment to solicit more proxies unnecessary.

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For a comprehensive understanding of the announcement, you can read the full document here.