Evelo Biosciences Shareholders Approve Dissolution Plan

Evelo Biosciences Inc (EVLO) has released an update to notify the public and investors about the submission of matters to a vote of security holders.

On January 26, 2024, Evelo Biosciences, Inc. held a special stockholders’ meeting where over 60% of outstanding shares were represented. The stockholders approved both the liquidation and dissolution of the company and the grant of discretionary authority to adjourn the meeting to solicit additional proxies if necessary. The company’s Board of Directors now has the authority to proceed with the dissolution process but retains the discretion to decide the timing, or if it’s in the company’s best interest, to either abandon or amend the dissolution plan as allowed by Delaware law without further stockholder approval.

For further insights into EVLO corporate activity, check out TipRanks’ Insiders Trading Activity page.