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Acorda Withdraws Proposal To Raise Authorized Shares From Special Meeting Of Stockholders
(RTTNews) - Acorda Therapeutics, Inc. (ACOR) announced Monday that it has withdrawn Proposal One, a request to increase the number of authorized shares of Acorda stock, from the ballot for the Special Meeting of Stockholders scheduled for November 4, 2022.
Proposal Two, authorization of a Reverse Stock Split, remains on the ballot. This proposal would give Acorda's Board of Directors the ability to implement a reverse stock split of Acorda's stock. The will ensure that the company's stock price moves above $1.00, which would prevent the company from being delisted by Nasdaq.
Proposal Three, the Adjournment Proposal, to allow the Company to adjourn and reconvene the Special Meeting to have additional time to solicit proxies, will also remain on the ballot.
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