Benzinga | May 12, 2021 09:05AM EDT

Baudax Bio Reports Glass Lewis Recommended Shareholders Vote For Proposal 3

Baudax Bio, Inc. (NASDAQ:BXRX) (the "Company"), a pharmaceutical company focused on developing and commercializing innovative products for acute care settings, today announced that Glass Lewis & Co. has recommended that Baudax Bio shareholders vote "FOR" Proposal 3, which seeks to amend the Company's Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 100 million shares to 190 million shares. The Annual Meeting is expected to resume with respect to Proposal 3 on June 3, 2021 at 10:00 a.m. ET and will continue to be held virtually at www.virtualshareholdermeeting.com/BXRX2021.

Glass Lewis is widely recognized as one of the leading independent proxy voting and corporate governance advisory firms, and its recommendations are relied upon by thousands of major institutional investment firms, mutual funds and other fiduciaries throughout the United States.

In response to the favorable recommendation, Gerri Henwood, President and CEO of Baudax Bio said, "We are pleased that Glass Lewis, a highly regarded, independent, leading proxy advisory firm understands the importance of increasing the number of authorized shares to a level that allows us to achieve our corporate objectives and attract a broader and more diverse shareholder base."

Baudax shareholders are urged to vote as Glass Lewis recommend by voting "FOR" the proposed increase in authorized shares. Shareholders with questions may call Okapi Partners LLC at (855) 208-8902 or by email at info@okapipartners.com.

How to Vote

If you are a shareholder of record at the close of business on March 1, 2021, you can vote your shares in one of two ways: either by proxy or in person at the special meeting. If you chose to submit a proxy, you may do so by telephone, via the internet or by mail. Please follow the instructions on the proxy card you have received. If you hold shares of Baudax Bio common stock in multiple accounts, you should vote your shares as described in each set of proxy materials you receive. Baudax Bio highly recommends shareholders vote electronically or by phone without delay. Please have your proxy card with you while voting. If you chose to vote via the Internet or phone, you do not have to return the proxy card.

Shareholders who have already submitted a proxy do not need to vote again for the reconvened Annual Meeting, as the proxies submitted will remain valid. Shareholders who have already submitted proxies and want to change their vote with respect to Proposal 3 can update their vote in the manner set forth in the Proxy Statement. Your vote will be recorded at the Annual Meeting in accordance with your most recently submitted proxy.

For shareholders who still need assistance voting their shares, or have questions regarding the special meeting, please contact Baudax Bio's proxy solicitation firm, Okapi Partners LLC, either by telephone: (855) 208-8902 or by email: info@okapipartners.com.