Iterum Therapeutics Plc (ITRM) has released an update to notify the public and investors about the submission of matters to a vote of security holders.
Iterum Therapeutics plc held an extraordinary general meeting on January 30, 2024, during which shareholders voted against a proposal that would have allowed the board of directors to issue an additional 5,000,000 ordinary shares for cash without the customary pre-emptive rights for existing shareholders. The proposal required a 75% affirmative vote but failed to achieve this threshold, with 3,139,498 votes for, 2,724,101 against, and 26,719 abstentions. There were no broker non-votes since the matter was deemed “routine” under NYSE rules.
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For a comprehensive understanding of the announcement, you can read the full document here.
