Karyopharm increases authorized shares, approves reverse split

On January 30, 2025, Karyopharm Therapeutics Inc. (NASDAQ: KPTI), a biopharmaceutical company with a market capitalization of $83.66 million and currently trading at $0.66 per share, held a Special Meeting of Stockholders resulting in significant corporate changes. The stockholders voted to adopt an amendment to increase the number of authorized shares of capital stock from 405 million to 805 million, and common stock from 400 million to 800 million. The vote tally for this amendment was 71,618,709 in favor, 23,360,588 against, and 346,808 abstaining.

Additionally, stockholders approved an amendment to effectuate a reverse stock split of the company's issued common stock at a ratio between 1-for-5 and 1-for-15. The final ratio and timing will be determined by the Board of Directors at their discretion. The reverse split proposal received 74,797,840 votes for, 20,047,317 against, and 480,948 abstaining.

You May Also Be Interested In

• First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
• Utz Brands (UTZ) Declares $0.063 Quarterly Dividend; 3.5% Yield
• UraniumX raises $700,000 in oversubscribed private placement