Alliqua BioMedical, Inc. (NASDAQ:ALQA) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
On March 8, 2019, Alliqua BioMedical, Inc. (the “Company”) held a special meeting of stockholders (the “Special Meeting”). At the Special Meeting, the following three proposals were submitted to a vote of the Company’s stockholders:
| (1) | A proposal to approve the Agreement and Plan of Merger and Reorganization, dated as of October 11, 2018 (the “Merger Agreement”), by and between the Company, Embark Merger Sub Inc., and Adynxx, Inc., the Merger, the issuance of the Company’s common stock to the Merger Agreement and the other transactions contemplated by the Merger, as well as the resulting “change of control” of the Company under Nasdaq rules (the “Merger Proposal”). |
| (2) | A proposal to approve an amendment to the Company’s amended and restated certificate of incorporation to effect a reverse stock split of the Company’s common stock (the “Reverse Stock Split Proposal”). |
| (3) | A proposal to approve an adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of any of the foregoing proposals (the “Adjournment Proposal”). |
For more information about the foregoing proposals, see the Company’s definitive proxy statement filed with the Securities and Exchange Commission on January 24, 2019, the relevant portions of which are incorporated herein by reference. The number of votes cast for and against and the number of abstentions with respect to each matter voted upon are set forth below.
| (1) | Approval of the Merger Proposal: |
| Votes For | Votes Against | Votes Abstaining |
| 2,872,621 | 39,264 | 5,191 |
| (2) | Approval of the Reverse Stock Split Proposal: |
| Votes For | Votes Against | Votes Abstaining |
| 2,780,838 | 129,895 | 6,343 |
| (3) | Approval of the Adjournment Proposal: |
| Votes For | Votes Against | Votes Abstaining |
| 2,768,183 | 140,853 | 8,040 |
The results reported above are final voting results. No other matters were considered or voted upon at the meeting.
The approval of the Merger Proposal satisfies one of the final conditions to the closing of the Merger as set forth in the Merger Agreement. The Merger remains subject to the satisfaction of other customary closing conditions.
About Alliqua BioMedical, Inc. (NASDAQ:ALQA)
Alliqua BioMedical, Inc. is a provider of advanced wound care solutions. The Company’s businesses include advanced wound care and contract manufacturing. The Company operates through its subsidiaries, such as AquaMed Technologies, Inc. and Choice Therapeutics, Inc. The Company is engaged in developing a suite of advanced wound care solutions that will enable surgeons, clinicians and wound care practitioners to address the challenges in chronic and acute wounds. The Company utilizes hydrogel technology through which hydrogels are manufactured by introducing a hydrophilic polymer into water to create a feed mix. The Company’s commercial wound care portfolio consists of over four product categories, such as Human Biologics; Antimicrobial Protection; Exudate Management and Contract Manufacturing. Human Biologics include BIOVANCE and Extracellular Matrix (ECM). Under Antimicrobial Protection, the Company offers TheraBond 3D Antimicrobial Barrier Systems and SilverSeal.
