SEQUENTIAL BRANDS GROUP, INC. (NASDAQ:SQBG) 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
A special meeting of the stockholders of Sequential Brands Group, Inc. (the “Company”) was held on February 11, 2020. The stockholders of the Company voted as follows on the matters set forth below.
1. To approve an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split. The stockholders approved the vote to effect a reverse stock split of our issued and outstanding common stock at a ratio of 1 share-for-10 shares up to a ratio of 1 share-for-40 shares, to be determined by the our Board of Directors, based on the following votes:
| 48,462,491 | 4,679,460 | 572,586 | – |
The special meeting was not adjourned because the prior proposal was approved by the affirmative vote of a majority of the shares of common stock entitled to vote at the meeting.
The Company plans to effect the reverse stock split approximately sixty to seventy-five days following the announcement of the results of the special meeting.
About SEQUENTIAL BRANDS GROUP, INC. (NASDAQ:SQBG)
Sequential Brands Group, Inc. owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods. The Company licenses brands to both wholesale and direct-to-retail licensees. The Company licenses the Martha Stewart brand to various licensees, including retailers, such as Macy’s, The Home Depot, PetSmart and Staples. The Jessica Simpson Collection is a signature lifestyle concept designed in collaboration with Jessica Simpson, which offers various product categories, including footwear, apparel, fragrance, fashion accessories, maternity apparel, girls clothing and a home line. The Avia brand offers running and activewear products.
