Item 5.07.
Submission of Matters to a Vote of Security Holders.
On March 2, 2016, the Company held a Special Meeting of Stockholders (the "Special Meeting"). The following is a brief description of each matter submitted to a vote at the Special Meeting, as well as the number of votes cast for, withheld or against, the number of abstentions and the number of broker non-votes with respect to each matter, as applicable. For more information about these proposals, please refer to the Company’s proxy statement filed with the Securities and Exchange Commission (the “SEC”) on February 4, 2016. The number of shares of common stock entitled to vote at the Special Meeting was 52,942,892.
The number of shares of common stock present or represented by valid proxy at the Special Meeting was 27,124,984. Certain matters submitted to a binding vote of stockholders at the Special Meeting were approved as described below.
Proposal No. 1
Stockholders approved, pursuant to NASDAQ Stock Market Rules 5635(b) and 5635(d), the issuance of shares of common stock and the issuance of shares of common stock upon the exercise of warrants to purchase shares of common stock in connection with subscription agreements, dated January 12, 2016, between the Company and certain institutional investors. The results of the voting included 24,378,292 votes for, 1,348,423 votes against and 1,398,269 votes abstained.
Proposal No. 2
Stockholders approved an adjournment to the Special Meeting, if necessary or appropriate, to establish a quorum or to permit further solicitation of proxies if there were not sufficient votes at the time of the Special Meeting cast in favor of Proposal 1. The results of the voting included 25,347,119 votes for, 1,699,585 votes against and 78,280 votes abstained. |
