Rennova Health, Inc. (NASDAQ:RNVA) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07. Submission of Matters to a Vote of Security Holders.
On August 22, 2018, Seamus Lagan, Chief Executive Officer and President of Rennova Health, Inc. (the “Company”), and Alcimede LLC, of which Mr. Lagan is the sole manager, the holders of 26,684,380 shares of common stock and 250,000 shares of Series J Convertible Preferred Stock (the “Series J Preferred Stock”), which votes with the common stock and the Series F Convertible Preferred Stock (the “Series F Preferred Stock”), with each share of Series J Preferred Stock having 12,000 votes, representing 50.4% of the total voting power of the Company’s voting securities, approved by written consent in lieu of a special meeting of stockholders the following proposals, which had previously been approved and recommended to be approved by the stockholders by the Board of Directors of the Company.
Proposal 1: To approve an amendment to our Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 3,000,000,000 to 10,000,000,000 shares.
Proposal 2: To approve an amendment to our Certificate of Incorporation, as amended, to effect a reverse stock split of all of the outstanding shares of our common stock, at a specific ratio from 1-for-200 to 1-for-500, and to grant authorization to our Board of Directors to determine, in its discretion, the specific ratio and timing of the reverse split any time before September 1, 2019, subject to the Board of Directors’ discretion to abandon such amendment.
For more information regarding these proposals, see the Company’s definitive information statement filed with the Securities and Exchange Commission on August 23, 2018, which is being mailed to the holders of our common stock, Series F Preferred Stock and Series J Preferred Stock. The stockholder approval of the above proposals will be effective on September 18, 2018.
About Rennova Health, Inc. (NASDAQ:RNVA)
Rennova Health, Inc. (Rennova), formerly CollabRx, Inc., is a provider of diagnostics and supportive software solutions to healthcare providers. The Company operates in three segments: clinical laboratory operations, supportive software solutions, and decision support and informatics operations. The Company is a healthcare enterprise that delivers products and services, including laboratory diagnostics, healthcare technology solutions, and revenue cycle management and intends to provide financial services, to medical providers. Rennova’s principal line of business is clinical laboratory blood and urine testing services. It is also engaged in the provision of urine drug toxicology testing to physicians, clinics and rehabilitation facilities in the United States. Its clinical laboratories include Biohealth Medical Laboratory, Inc.; Alethea Laboratories, Inc.; International Technologies, LLC; EPIC Reference Labs, Inc., and Epinex Diagnostics Laboratories, Inc.
