TransCode Therapeutics (NASDAQ:RNAZ) stock is sliding lower on Monday following its announcement of an upcoming annual shareholder meeting.
TransCode Therapeutics has informed investors in RNAZ stock that the company will hold its annual shareholder meeting on June 13, 2024, at 9:30 a.m. Eastern Time. The meeting will be in person, and shareholders are advised to vote early through proxy.
TransCode Therapeutics notes that there are a few matters that will be voted on during the shareholder meeting. They are as follows:
- The election of Philippe Calais, Thomas Fitzgerald, Erik Manting and Magda Marquet as members of the board of directors for one-year terms.
- Approving an amendment to its 2021 Stock Option and Incentive Plan that will increase shares available for issuance by 3 million.
- Confirming WithumSmith+Brown, PC as its independent registered public accounting firm for fiscal 2024.
- Approval for the board of directors to enact a reverse stock split on a 1-for-2 to a 1-for-40 ratio.
- The ability to adjourn the meeting to a later date.
- The option to cover any other business brought up before the meeting during it.
How This Affects RNAZ Stock
Shares of RNAZ stock are down 13.5% as of Monday morning. This is likely due to its plans for a reverse stock split. These types of announcements often cause a company’s shares to fall as investors are wary about such actions.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
