Tenax Therapeutics, Inc. (NASDAQ:TENX) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders.
Tenax Therapeutics, Inc. (the “Company”) held a Special Meeting of Stockholders on February 15, 2018 (the “Special Meeting”). The stockholders considered the proposal described below, which is described in more detail in the Company’s definitive proxy statement dated January 16, 2018. As of January 12, 2018, the record date for the Special Meeting, there were 28,236,775 shares of common stock issued, outstanding and entitled to vote. At the Special Meeting,16,567,887 shares of common stock were represented in person or by proxy, constituting a quorum. The final number of votes cast for and against, as well as the number of abstentions and broker non-votes, with respect to the proposal is set forth below.
Proposal 1: To approve an amendment to the Company’s certificate of incorporation to effect a reverse stock split (the “reverse stock split”) at a ratio of not less than one-for-five and not more than one-for-fifty at any time prior to December 31, 2018, with such ratio and the implementation and timing of such reverse stock split to be determined by the Company’s board of directors in its sole discretion.
The votes were cast as follows:
Proposal 1 was approved.
A proposal to approve the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies to approve the reverse stock split was not voted on because the proposal to approve the reverse stock split had passed.
About Tenax Therapeutics, Inc. (NASDAQ:TENX)
Tenax Therapeutics, Inc. is a specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing products for the critical care market. The Company’s main product is levosimendan. Levosimendan is a calcium sensitizer developed for intravenous use in hospitalized patients with acutely decompensated heart failure. Levosimendan represents therapeutic modalities for the treatment of Low Cardiac Output Syndrome (LCOS), septic shock and other critical care conditions. The therapeutic effects of levosimendan are mediated through increased cardiac contractility by calcium sensitization of troponin C, resulting in a positive inotropic effect, which is not associated with substantial increases in oxygen demand; opening of potassium channels in the vasculature smooth muscle, resulting in a vasodilatory effect on all vascular beds, and opening of mitochondrial potassium channels in cardiomyocytes, resulting in a cardioprotective effect.