Baudax Bio Announces Special Meeting of Shareholders to Vote on Proposed Increase in Number of Authorized Shares of Common Stock

Rhea-AI Summary

Baudax Bio (NASDAQ: BXRX) announced a Special Meeting of shareholders scheduled for July 13, 2021, to vote on increasing the authorized shares of common stock from 100 million to 190 million. The meeting will be held virtually at 9:00 a.m. Eastern Time. Leading proxy advisory firms, Glass Lewis and Institutional Shareholder Services, recommend shareholders vote 'for' the increase. This proposal aims to facilitate future capital-raising efforts necessary for the company's growth and product development.

Positive

• Proxy advisory firms recommend shareholders vote 'for' the proposed increase in authorized shares.
• The increase aims to support future capital-raising efforts for business development.

Negative

• None.

Special meeting to be held virtually on July 13, 2021, at 9:00 a.m. Eastern Time

MALVERN, Pa., June 18, 2021 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on developing and commercializing innovative products for acute care settings, today announced that it has scheduled a Special Meeting of shareholders to approve its proposed increase of the number of authorized shares of common stock from 100 million shares to 190 million shares for Tuesday, July 13, 2021 at 9:00 a.m. Eastern Time. The proposal to increase the Company’s authorized shares of capital stock is set forth in its Definitive Proxy Statement filed with the Securities and Exchange Commission on June 14, 2021.

Leading independent proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services, Inc. have both recommended that Baudax Bio shareholders vote “for” the proposed additional authorized shares. The Special Meeting will be held virtually at www.virtualshareholdermeeting.com/BXRX2021.

All shareholders are encouraged to vote no matter how many shares you own. You are encouraged to submit your vote as soon as possible. Please submit your vote online at www.proxyvote.com or by telephone at 1-800-690-6903. Shareholders needing assistance voting or have questions may contact the Company’s proxy solicitation firm, Okapi Partners, at info@okapipartners.com or (855) 208-8902.

About Baudax Bio

Baudax Bio is a pharmaceutical company focused on developing and commercializing innovative products for acute care settings. The launch of Baudax Bio’s first commercial product ANJESO^® began in mid-2020. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs which is currently in preclinical studies. For more information, please visit www.baudaxbio.com.

CONTACT:

Investor Relations Contact:

Argot Partners
Sam Martin / Claudia Styslinger
(212) 600-1902
baudaxbio@argotpartners.com

Media Contact:

Argot Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com

FAQ

What is Baudax Bio's proposal at the Special Meeting on July 13, 2021?

Baudax Bio proposes to increase the number of authorized shares of common stock from 100 million to 190 million.

What time is Baudax Bio's Special Meeting scheduled for?

The Special Meeting is scheduled for 9:00 a.m. Eastern Time on July 13, 2021.

Who recommended that shareholders vote in favor of Baudax Bio's proposal?

Glass Lewis and Institutional Shareholder Services recommended shareholders vote 'for' the proposed increase.

Where can shareholders vote for Baudax Bio's proposal?

Shareholders can vote online at www.proxyvote.com or by telephone at 1-800-690-6903.

What is Baudax Bio focused on in terms of product development?

Baudax Bio focuses on developing and commercializing innovative products for acute care settings.