Latest news with #CertificateofIncorporation
Yahoo
21-05-2025
- Business
- Yahoo
ClearOne, Inc. Announces 1-for-15 Reverse Stock Split
SALT LAKE CITY, May 21, 2025--(BUSINESS WIRE)--At a special meeting of stockholders to be held on May 30, 2025 (the "Special Meeting") of ClearOne, Inc. (NASDAQ: CLRO), the Company's stockholders will vote to approve a proposal to authorize a reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share (the "Common Stock") by a ratio of between 1-for-10 and 1-for-15 (the "Reverse Stock Split Proposal"). Today the Company announced that, subject to stockholder approval of the Reverse Stock Split Proposal at the Special Meeting, the Company will effect a 1-for-15 reverse stock split of the Company's issued and outstanding Common Stock effective at 5:00 p.m. Eastern time on June 2, 2025 (the "Effective Time"). The Company's Common Stock will begin trading on a reverse stock split adjusted basis on The Nasdaq Capital Market at market open on June 3, 2025. The Company's Board of Directors has approved the 1-for-15 reverse split ratio, and upon stockholder approval of the Reverse Stock Split Proposal at the Special Meeting, immediately following the conclusion of the Special Meeting on May 30, 2025, the Company will file certificate of amendment to its Certificate of Incorporation to effect the Reverse Stock Split at the Effective time. The Reverse Stock Split is primarily intended to increase the Company's per share market price of its Common Stock to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The Company's common stock will continue to trade on The Nasdaq Capital Market under the trading symbol "CLRO," but will trade under the following new CUSIP number: 18506U203. As a result of the Reverse Stock Split, every 15 shares of the Company's issued and outstanding Common Stock will be automatically combined into one new share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Any fraction of a share resulting from the Reverse Stock Split will be converted to one whole share of Common Stock in lieu of such fractional shares. The par value per share of Common Stock will remain unchanged at $0.001. Proportional adjustments will be made to the number of shares of Common Stock issuable upon the exercise of the Company's outstanding stock options and warrants, and the number of shares authorized and reserved for issuance pursuant to the Company's equity incentive plans. The Reverse Stock Split will not alter stockholders' percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in fractional ownership as described above. The Reverse Stock Split will not change the authorized number of shares of the Company's common stock, and will reduce the number of issued and outstanding shares of the Company's Common Stock from approximately 26.0 million to approximately 1.7 million. The Company's transfer agent, Colonial Stock Transfer, will serve as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Stockholders holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Colonial Stock Transfer with instructions as soon as practicable after the Effective Time. About ClearOne ClearOne is a global company that designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at View source version on Contacts Investor Relations Contact: Simon Brewer385-426-0565investor_relations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-05-2025
- Business
- Business Wire
ClearOne, Inc. Announces 1-for-15 Reverse Stock Split
SALT LAKE CITY--(BUSINESS WIRE)--At a special meeting of stockholders to be held on May 30, 2025 (the 'Special Meeting') of ClearOne, Inc. (NASDAQ: CLRO), the Company's stockholders will vote to approve a proposal to authorize a reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share (the 'Common Stock') by a ratio of between 1-for-10 and 1-for-15 (the 'Reverse Stock Split Proposal'). Today the Company announced that, subject to stockholder approval of the Reverse Stock Split Proposal at the Special Meeting, the Company will effect a 1-for-15 reverse stock split of the Company's issued and outstanding Common Stock effective at 5:00 p.m. Eastern time on June 2, 2025 (the 'Effective Time'). The Company's Common Stock will begin trading on a reverse stock split adjusted basis on The Nasdaq Capital Market at market open on June 3, 2025. The Company's Board of Directors has approved the 1-for-15 reverse split ratio, and upon stockholder approval of the Reverse Stock Split Proposal at the Special Meeting, immediately following the conclusion of the Special Meeting on May 30, 2025, the Company will file certificate of amendment to its Certificate of Incorporation to effect the Reverse Stock Split at the Effective time. The Reverse Stock Split is primarily intended to increase the Company's per share market price of its Common Stock to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The Company's common stock will continue to trade on The Nasdaq Capital Market under the trading symbol 'CLRO,' but will trade under the following new CUSIP number: 18506U203. As a result of the Reverse Stock Split, every 15 shares of the Company's issued and outstanding Common Stock will be automatically combined into one new share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Any fraction of a share resulting from the Reverse Stock Split will be converted to one whole share of Common Stock in lieu of such fractional shares. The par value per share of Common Stock will remain unchanged at $0.001. Proportional adjustments will be made to the number of shares of Common Stock issuable upon the exercise of the Company's outstanding stock options and warrants, and the number of shares authorized and reserved for issuance pursuant to the Company's equity incentive plans. The Reverse Stock Split will not alter stockholders' percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in fractional ownership as described above. The Reverse Stock Split will not change the authorized number of shares of the Company's common stock, and will reduce the number of issued and outstanding shares of the Company's Common Stock from approximately 26.0 million to approximately 1.7 million. The Company's transfer agent, Colonial Stock Transfer, will serve as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders who hold their shares in brokerage accounts or in 'street name' will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Stockholders holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Colonial Stock Transfer with instructions as soon as practicable after the Effective Time. About ClearOne ClearOne is a global company that designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at
Yahoo
21-05-2025
- Business
- Yahoo
Navidea Biopharmaceuticals, Inc. Announces Extension of Authority to Implement a Reverse Stock Split
Navidea Biopharmaceucitals, Inc. extends deadline to implement a reverse stock split COLUMBUS, Ohio, May 21, 2025--(BUSINESS WIRE)--Navidea Biopharmaceuticals, Inc. (OTC: NAVB) ("Navidea" or the "Company"), a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced the extension of its authority to implement a reverse stock split of its common stock at a ratio of up to 1-for-50,000 shares. The Company originally received shareholder approval to amend its Certificate of Incorporation to authorize a reverse stock split at a ratio of up to 1-for-50,000 at a special meeting held on July 8, 2024. That authorization, which was initially set to expire on July 8, 2025, has now been extended by two years to July 8, 2027. The extension was approved by the Company's Board of Directors and confirmed through written action by a majority of its shareholders. The decision to execute a reverse stock split, including the timing and specific ratio, remains at the discretion of Navidea's Board of Directors. "The rationale behind considering a reverse stock split is multifaceted," said Craig A. Dais, Chief Financial Officer of Navidea. "As we continue to evaluate strategic partnerships and other funding opportunities to advance our pharmaceutical development objectives, it is essential to simplify the Company's capitalization table. Additionally, reducing the number of record holders of our common stock is a key step toward staying below the SEC threshold that would otherwise require ongoing public reporting, which entails significant costs. If implemented, the reverse stock split would help achieve this objective." About Navidea Navidea Biopharmaceuticals, Inc. (OTC: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea's Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. Navidea's strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company's pipeline through global partnering and commercialization efforts. For more information, visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations regarding pending litigation and other matters. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, among other things: our history of operating losses and uncertainty of future profitability; the final outcome of any pending litigation; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; dependence on royalties and grant revenue; our ability to implement our growth strategy; anticipated trends in our business; our limited product line and distribution channels; advances in technologies and development of new competitive products; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent Annual Report on Form 10-K and other SEC filings. You are urged to carefully review and consider the disclosures found in our SEC filings, which are available at or at Investors are urged to consider statements that include the words "will," "may," "could," "should," "plan," "continue," "designed," "goal," "forecast," "future," "believe," "intend," "expect," "anticipate," "estimate," "project," and similar expressions, as well as the negatives of those words or other comparable words, to be uncertain forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be incorrect. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. In light of these risks and uncertainties, the forward- looking events and circumstances discussed in this report may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. View source version on Contacts Investor Relations Contact Navidea Biopharmaceuticals, A. Dais, Chief Financial Officercdais@ (614)-822-2322 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
15-05-2025
- Business
- Business Standard
Fine Organic Industries incorporates wholly owned subsidiary on US
Fine Organic Industries announced that a wholly owned subsidiary of the Company, named 'Fine Organics Americas LLC' has been incorporated in United States of America as per the Certificate of Incorporation issued on 14 May 2025. This subsidiary will be carry on the business of specialty chemical by Capital Market - Live News
Business Recorder
07-05-2025
- Business
- Business Recorder
NGC BoD constitutes restructuring body to oversee transition
ISLAMABAD: The National Grid Company (NGC), formerly known as the National Transmission and Despatch Company (NTDC), has informed the Power Division that its Board of Directors (BoD) has constituted a Restructuring Committee to oversee all phases of the transition, as approved by the Federal Cabinet, sources told Business Recorder. The move follows a letter from the Power Division dated November 20, 2024, regarding the implementation of the Cabinet's decision— communicated on November 6, 2024— to restructure NTDC. Maria Rafique, Chief Law Officer (CLO) of NGC, informed the Power Division that, in compliance with the Cabinet directive, NTDC shareholders in their 2nd Extraordinary General Meeting on December 26, 2024, unanimously resolved to change the company's name to National Grid Company of Pakistan Limited, subject to approvals from the Securities and Exchange Commission of Pakistan (SECP). Cabinet decides to divide NTDC into two entities To facilitate this transition, the CLO was authorised to carry out all necessary legal and procedural requirements. Nepra issued its no-objection to the proposed name change on February 24, 2025, in response to the application submitted on December 19, 2024. Subsequently, SECP formally approved the change through a Certificate of Incorporation on March 20, 2025 (Identification No. 0039611). Simultaneously, the Energy Infrastructure Development and Management Company (EIDMC) was also incorporated. The Ministry of Energy (Power Division) submitted incorporation documents, including the Articles and Memorandum of Association, to SECP on January 1, 2025. SECP issued the Certificate of Incorporation on January 3, 2025, under Section 16 of the Companies Act, 2017, legally establishing the company. Following incorporation, the CLO communicated post-incorporation steps via emails dated January 15, January 28, February 25, and March 28, 2025, to relevant officials in the Power Division under the framework of the State-Owned Enterprises Act and SECP regulations. On the matter of the Independent System & Market Operator (ISMO), NGC's Legal Department facilitated its incorporation by preparing the Articles and Memorandum of Association and ensuring full regulatory compliance. ISMO was formally incorporated on December 4, 2024. To support ISMO's operationalization, NGC allocated legal, finance, and HR resources with effect from January 1, 2025. Additionally, NTDC, CPPA-G, and ISMO jointly submitted applications to Nepra for the transfer and acquisition of relevant licenses on December 31, 2024. Business Transfer Agreements (BTAs) and Service Level Agreements (SLAs) between NTDC and ISMO, as well as between CPPA-G and ISMO, have been approved by the respective Boards and signed by all parties involved. Although the Power Division's directive only required NTDC's Board to implement the transitions to NGC and EIDMC, the company also proactively supported the incorporation and initial operations of ISMO. The restructuring is progressing in line with the Cabinet's directives, with major milestones already achieved. The transition to the National Grid Company of Pakistan Limited remains ongoing, including steps such as organisational rightsizing. 'We have been regularly updating the Power Division on restructuring progress as required. Further updates will be provided upon completion of the remaining formalities,' said Maria Rafique, adding that the BoD of NGC has formally established a Restructuring Committee to guide the transition. Nepra has also issued licenses to the newly established entities, supporting the restructuring process and marking a significant advancement in Pakistan's power sector reform agenda. Copyright Business Recorder, 2025
