INNOVUS PHARMACEUTICALS (OTCMKTS:INNV) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.
On January 17, 2019, the Company began soliciting written consents from its stockholders in lieu of a special meeting to the Consent Solicitation Statement on Schedule 14A filed with the Securities and Exchange Commission on January 17, 2019 (the“Consent Solicitation Statement”), to approve a stockholder resolution to authorize the Company’s Board of Directors (the “Board”), in its sole discretion, without further action of its stockholders, to amend its Amended and Restated Articles of Incorporation (“Charter”), to implement a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (“Common Stock”), at a ratio of any whole number up to 1-for-200, on or before January 17, 2020, with the exact ratio to be determined by the Board (the“Reverse Split”).
As of January 11, 2019 (the“Record Date”), the Company had 244,839,264 shares of Common Stock issued and outstanding. As of February 22, 2019, the Company had received 144,998,420 written consents approving the Reverse Split, amounting to 59.2% of the Company’s issued and outstanding shares of Common Stock as of the Record Date. In addition, the Company received 86,024,501 written consents against the Reverse Split, and 776,877 written consents representing stockholders’ decisions to abstain from the vote. Because the Company received written consents approving the Reverse Split from stockholders representing more than 50% of the outstanding shares of Company Common Stock as of the Record Date, the Reverse Split was approved, and the solicitation terminatedon February 22, 2019, as contemplated by the Consent Solicitation Statement.
As a result, the Company may elect to effect the Reverse Split to the terms set forth in the Consent Solicitation Statement on or before January 17, 2020.
About INNOVUS PHARMACEUTICALS (OTCMKTS:INNV)
Innovus Pharmaceuticals, Inc. is a pharmaceutical company engaged in the commercialization, licensing, and development of non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. The Company markets approximately five products in the United States and six in a range of countries around the world through its commercial partners. It has commercial agreements in over 60 countries around the world through its commercial partners. Its marketed products include Zestra, EjectDelay, Sensum+, Zestra Glide, Vesele and Androferti. In addition, the Company has a pipeline of over three additional products, including FlutiCare Over-The-Counter (OTC) for Allergic Rhinitis; Urocis XR, an extended release of Vaccinium Marcocarpon (cranberry), and AndroVit, a supplement to support overall prostate and male sexual health, which is marketed in Europe.
