Provectus Biopharmaceuticals Announces Stockholder Approval to Undertake Reverse Split of Outstanding Equities and Reduce Number of Authorized Equities by Same Ratio
Provectus (OTCQB: PVCT) announced on June 23, 2022, that shareholders approved a reverse stock split and an authorized share reduction during the 2022 Annual Meeting held on June 22. Other approved proposals include the election of directors and executive compensation. The Board aims to enhance shareholder value through these measures. Detailed voting results are available in Provectus' Form 8-K filed the same day. The company focuses on developing immunotherapy medicines for various diseases, particularly in oncology and dermatology.
- Shareholders approved a reverse stock split, potentially improving stock value.
- Authorized share reduction may help enhance shareholder value.
- Approval of director elections and executive compensation reflects shareholder confidence.
- None.
KNOXVILLE, TN, June 23, 2022 (GLOBE NEWSWIRE) -- Provectus (OTCQB: PVCT) today announced that the Company’s shareholders have approved the proposals of Provectus’ Board of Directors (Board) to seek the authority to undertake a reverse stock split and an authorized share reduction.
At the Company’s 2022 Annual Meeting of Stockholders held in Knoxville, Tennessee on June 22, shareholders also approved the Board’s recommendations of proposals for the election of directors, the approval of the compensation of Provectus’ named executive officers, and the ratification of the Company’s independent registered public accounting firm.
A copy of Provectus’ Form 8-K filed on June 23 that provided details of shareholder voting on the Board’s five proposals, including a brief description of and the tabulation of votes for each proposal, may be found here: https://www.sec.gov/ix?doc=/Archives/edgar/data/315545/000149315222017562/form8-k.htm.
About Provectus
Provectus Biopharmaceuticals, Inc. (Provectus or the Company) is a clinical-stage biotechnology company developing immunotherapy medicines for different disease areas based on a class of small molecules called halogenated xanthenes (HXs). The Company’s lead molecule is RBS. A second HX molecule has been synthesized.
Provectus’ drug discovery and development programs include investigational drugs and drug targets in oncology (clinical-stage), dermatology (clinical-stage), hematology, virology, microbiology, ophthalmology (clinical-stage), and animal health, and use multiple routes of administration, such as intralesional (IL), topical (.top), oral (P.O.), inhaled (.inh), intranasal (IN), and intravenous (IV).
Information about the Company’s clinical trials can be found at the National Institutes of Health (NIH) registry, www.clinicaltrials.gov. For additional information about Provectus, please visit the Company's website at www.provectusbio.com.
FORWARD-LOOKING STATEMENTS: The information in this press release may include “forward-looking statements,” within the meaning of U.S. securities legislation, relating to the business of Provectus and its affiliates, which are based on the opinions and estimates of Company management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “budget,” “plan,” “continue,” “estimate,” “expect,” “forecast,” “may,” “will,” “project,” “predict,” “potential,” “targeting,” “intend,” “could,” “might,” “should,” “believe,” and similar words suggesting future outcomes or statements regarding an outlook.
The safety and efficacy of the agents and/or uses under investigation have not been established. There is no guarantee that the agents will receive health authority approval or become commercially available in any country for the uses being investigated or that such agents as products will achieve any particular revenue levels.
Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof or as of the date specifically specified herein, and Provectus undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.
Risks, uncertainties, and assumptions include those discussed in the Company’s filings with the Securities and Exchange Commission (SEC), including those described in Item 1A of:
- The Company’s Annual Report on Form 10-K for the period ended December 31, 2021, and
- Provectus’ Quarterly Report on Form 10-Q for the period ended March 31, 2022.
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Contact:
Provectus Biopharmaceuticals, Inc.
Heather Raines, CPA
Chief Financial Officer
Phone: (866) 594-5999
FAQ
What proposals were approved by Provectus shareholders on June 22, 2022?
What is the significance of a reverse stock split for PVCT shareholders?
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