Benzinga | Sep 7, 2021 05:27PM EDT

Atossa Therapeutics Adjourns Special Stockholder Meeting To October 7, 2021 To Allow Additional Time To Vote

Atossa Therapeutics, Inc. (NASDAQ:ATOS), a clinical stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology and infectious diseases with a current focus on breast cancer and COVID-19, has adjourned today's special stockholder meeting to 9:00 a.m. Eastern time on October 7, 2021 to allow additional time for stockholders to vote. The Company urges stockholders to vote on the proposal put forth in the proxy statement prior to the new meeting date.

The purpose of the special meeting is to approve an increase in authorized shares of common stock, which requires the affirmative vote of a majority of the shares of common stock issued and outstanding as of the record date. While the votes cast to date have been strongly in favor of the proposal (73% of shares voted have been voted in favor), only 58% of the outstanding shares of common stock have been voted with 42% voting in favor of the proposal. Atossa is therefore adjourning the meeting for 30 days to allow additional time for stockholders to vote.

Leading proxy advisory firms ISS and Glass Lewis have recommended stockholders vote in favor of the proposed increase in authorized shares.

The newly authorized shares of common stock are primarily intended to be used to complete and/or support acquisitions, collaborations, partnerships and licensing transactions. If the proposal is approved by the stockholders, Atossa does not intend to issue any of the newly authorized shares of common stock for the purpose of raising capital in the nine months following approval of the proposal at a price less than $10 per share.

Details of the proposal, the stockholder meeting, and additional information on how to vote your shares can be found in the proxy statement, available here: https://www.sec.gov/Archives/edgar/data/1488039/000143774921019134/atos20210809_def14a.htm

Atossa stockholders may vote by calling (833) 786-6488 Monday through Friday 9 a.m. to 9 p.m. Eastern Time.