Palisade Bio Announces Adjournment of Special Meeting of Stockholders Due to Lack of Quorum

Rhea-AI Summary

Palisade Bio (NASDAQ: PALI), a clinical-stage biopharmaceutical company, announced the adjournment of its special meeting of stockholders on September 26, 2025, due to insufficient quorum. The meeting required one-third of outstanding shares present but achieved only 29.68% participation.

The meeting has been rescheduled for October 10, 2025 at 10:00 a.m. Pacific Time in virtual format. Only stockholders of record as of July 28, 2025 are eligible to vote. The company has engaged Mediant Communications Inc. to assist in obtaining the required votes, with a voting deadline of October 9, 2025, at 11:59 p.m. Pacific Time.

Positive

• None.

Negative

• Failure to achieve required quorum (29.68% vs. required 33.33%) indicates potential lack of shareholder engagement
• Meeting delay could postpone important corporate actions requiring shareholder approval

Carlsbad, CA, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade”, “Palisade Bio”, or the “Company”), a clinical-stage biopharmaceutical company advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases, today announced that the Company’s special meeting of stockholders held on September 26, 2025 at 10:00 a.m. Pacific Time was convened and adjourned, without any business being conducted, due to lack of the required quorum.

A quorum consists of one-third of the outstanding shares of the Company’s common stock entitled to vote at the special meeting. There were fewer than one-third of outstanding shares of the Company’s common stock entitled to vote present, either in person or by proxy at this meeting. The special meeting of stockholders therefore had no quorum and the meeting was adjourned to allow additional time for the Company’s stockholders to vote on the proposals set forth in the Company’s definitive proxy statement filed with the United States Securities and Exchange Commission (the “SEC”) on August 18, 2025 (the “Proxy Statement”). The special meeting of stockholders will reconvene at 10:00 a.m. Pacific Time on Friday, October 10, 2025 in virtual format at www.proxydocs.com/PALI.

During the adjournment, the Company continues to solicit votes from its stockholders with respect to the proposals set forth in the Proxy Statement. As set forth in the Proxy Statement, the Company has engaged a proxy solicitor, Mediant Communications Inc. to assist management with obtaining adequate votes to achieve the required quorum of at least one-third of the outstanding shares entitled to vote.

Only stockholders of record, as of the record date, July 28, 2025 are entitled to and are being requested to vote. At the time the special meeting was adjourned, proxies had been submitted by stockholders representing approximately 29.68% of the shares of the Company’s common stock outstanding and entitled to vote at the special meeting. Proxies previously submitted in respect of the special meeting will be voted at the adjourned special meeting unless properly revoked, and stockholders who have previously submitted a proxy or otherwise voted need not take any action.

The Company encourages all stockholders of record on July 28, 2025, whom have not yet voted, to do so by October 9, 2025 at 11:59 p.m. Pacific Time. Stockholders who have any questions or require any assistance with completing a proxy or voting instruction form or who do not have the required materials, may contact Mediant Communications Inc.; Toll-free: 1-888-715-3034, Monday through Friday, 9 a.m. to 6 p.m. Eastern Time.

About Palisade Bio
Palisade Bio is a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases. The Company believes that by using a targeted approach with its novel therapeutics it will transform the treatment landscape. For more information, please go to www.palisadebio.com.

Investor Relations Contact

JTC Team, LLC
Jenene Thomas
908-824-0775
PALI@jtcir.com

FAQ

Why was Palisade Bio's (PALI) special meeting adjourned on September 26, 2025?

The meeting was adjourned due to lack of quorum, with only 29.68% of shares represented versus the required one-third of outstanding shares needed.

When is the rescheduled PALI stockholder meeting?

The special meeting will reconvene on October 10, 2025, at 10:00 a.m. Pacific Time in virtual format at www.proxydocs.com/PALI.

Who is eligible to vote at Palisade Bio's special meeting?

Only stockholders of record as of July 28, 2025 are eligible to vote at the special meeting.

What is the voting deadline for PALI's rescheduled special meeting?

Stockholders must submit their votes by October 9, 2025, at 11:59 p.m. Pacific Time.

How can PALI shareholders get assistance with voting?

Shareholders can contact Mediant Communications Inc. at 1-888-715-3034, Monday through Friday, 9 a.m. to 6 p.m. Eastern Time for voting assistance.