Yield10 Bioscience Announces Adjournment of Special Meeting of Stockholders to Solicit Sufficient Votes in Favor of the Key Proposals
Yield10 Bioscience (OTCQB:YTEN) announced the adjournment of its Special Meeting of Stockholders due to insufficient votes for key proposals regarding the Asset Sale to Nuseed and the Dissolution proposal. The meeting has been rescheduled to November 21, 2024. More than 50% of shares must vote in favor of Proposals 1 and 2 to pass. The board emphasizes that the Nuseed asset sale represents the only possibility for stockholders to receive payment for their shares. Stockholders of record as of October 3, 2024, are urged to vote by November 20, 2024. The company may need to adjourn again if insufficient votes are received, potentially incurring additional costs.
Yield10 Bioscience (OTCQB:YTEN) ha annunciato il rinvio della sua Assemblea Straordinaria degli Azionisti a causa di un numero insufficiente di voti per le proposte chiave relative alla vendita degli asset a Nuseed e alla proposta di scioglimento. L'incontro è stato riprogrammato per il 21 novembre 2024. È necessario che più del 50% delle azioni voti a favore delle Proposte 1 e 2 affinché queste siano approvate. Il consiglio sottolinea che la vendita degli asset a Nuseed rappresenta l'unica possibilità per gli azionisti di ricevere un pagamento per le loro azioni. Gli azionisti registrati al 3 ottobre 2024 sono invitati a votare entro il 20 novembre 2024. L'azienda potrebbe dover rinviare nuovamente se non si ricevono voti sufficienti, potenzialmente sostenendo costi aggiuntivi.
Yield10 Bioscience (OTCQB:YTEN) anunció el aplazamiento de su Asamblea Especial de Accionistas debido a un número insuficiente de votos para las propuestas clave relacionadas con la venta de activos a Nuseed y la propuesta de disolución. La reunión ha sido reprogramada para el 21 de noviembre de 2024. Se requiere que más del 50% de las acciones vote a favor de las Propuestas 1 y 2 para que se aprueben. La junta enfatiza que la venta de activos a Nuseed representa la única posibilidad para que los accionistas reciban un pago por sus acciones. Se insta a los accionistas registrados hasta el 3 de octubre de 2024 a votar antes del 20 de noviembre de 2024. La empresa puede necesitar aplazar nuevamente si no se reciben votos suficientes, lo que podría generar costos adicionales.
Yield10 Bioscience (OTCQB:YTEN)는 Nuseed에 대한 자산 판매 및 청산 제안과 관련된 주요 제안에 대한 투표가 부족하여 주주 특별 회의를 연기했다고 발표했습니다. 회의는 2024년 11월 21일로 재조정되었습니다. 제안 1 및 2가 통과하려면 50% 이상의 주식이 찬성 투표를 해야 합니다. 이사회는 Nuseed 자산 판매가 주주가 주식에 대한 대금을 받을 수 있는 유일한 기회를 나타낸다고 강조합니다. 2024년 10월 3일 기준으로 주주 명부에 등록된 주주들은 2024년 11월 20일까지 투표할 것을 권장합니다. 충분한 투표가 없으면 다시 연기해야 할 수도 있으며, 이 경우 추가 비용이 발생할 수 있습니다.
Yield10 Bioscience (OTCQB:YTEN) a annoncé le report de son Assemblée Générale Extraordinaire des Actionnaires en raison d'un nombre insuffisant de votes pour des propositions clés concernant la vente d'actifs à Nuseed et la proposition de dissolution. La réunion a été reprogrammée pour le 21 novembre 2024. Plus de 50% des actions doivent voter en faveur des propositions 1 et 2 pour qu'elles soient adoptées. Le conseil d'administration souligne que la vente d'actifs à Nuseed représente la seule possibilité pour les actionnaires de recevoir un paiement pour leurs actions. Les actionnaires enregistrés au 3 octobre 2024 sont invités à voter avant le 20 novembre 2024. L'entreprise pourrait avoir besoin de reporter à nouveau si elle ne reçoit pas suffisamment de votes, ce qui pourrait entraîner des coûts supplémentaires.
Yield10 Bioscience (OTCQB:YTEN) gab die Verschiebung seiner Sonderversammlung der Aktionäre bekannt, da nicht genügend Stimmen für wesentliche Vorschläge zur Vermögensveräußerung an Nuseed und den Auflösungsantrag abgegeben wurden. Die Versammlung wurde auf den 21. November 2024 neu terminisiert. Mehr als 50% der Aktien müssen für die Vorschläge 1 und 2 stimmen, damit diese angenommen werden. Der Vorstand betont, dass der Verkauf der Vermögenswerte an Nuseed die einzige Möglichkeit für Aktionäre darstellt, eine Zahlung für ihre Aktien zu erhalten. Aktionäre, die am 3. Oktober 2024 im Aktienregister stehen, werden aufgefordert, bis zum 20. November 2024 zu stimmen. Das Unternehmen könnte die Versammlung erneut verschieben müssen, wenn nicht genügend Stimmen abgegeben werden, was möglicherweise zusätzliche Kosten verursachen könnte.
- Asset sale to Nuseed represents the only path for stockholders to potentially receive payment for shares
- Lack of sufficient stockholder votes for key proposals
- Risk of additional meeting adjournments and increased costs
- Company dissolution is being proposed
Special Meeting Adjourned to Thursday, November 21, 2024
WOBURN, MA / ACCESSWIRE / November 8, 2024 / Yield10 Bioscience, Inc. (OTCQB:YTEN) ("Yield10" or the "Company"), an agricultural bioscience company, today announced that its Special Meeting of Stockholders (the "Special Meeting"), scheduled to be held at 11:00 a.m., Eastern Time, on November 8, 2024, was convened and adjourned, without any business being conducted, due to lack of sufficient votes in favor of the key proposals related to the Asset Sale to Nuseed and the Dissolution proposal.
To pass the proposals, more than
The board of directors and management of Yield10 request stockholders as of the record date to please vote their proxies as soon as possible. During the current adjournment, Yield10 will continue to solicit votes from its stockholders with respect to the proposals set forth in Yield10's proxy statement. Only stockholders of record as of the record date, October 3, 2024, are entitled to and are being requested to vote. 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.
Oliver Peoples, Ph.D. President and Chief Executive Officer of Yield10 commented, "We are very grateful to our stockholders who have voted their proxies over the past three weeks. We continue to strongly encourage all Yield10 stockholders eligible to vote to review the proxy materials and participate in voting, as the proposed asset sale to Nuseed is the only avenue under which stockholders would potentially receive a payment for their shares."
For stockholders having any questions or requiring further assistance in voting shares, please contact Yield10's proxy solicitation agent Alliance Advisors toll-free at 855-643-7305. Yield10 encourages all stockholders of record who have not yet voted, to do so by November 20, 2024 at 11:59 p.m., Eastern time.
If the number of additional shares of common stock voted at the adjourned Special Meeting is not sufficient to reach a favorable vote on the Asset Sale to Nuseed and the Dissolution Proposal, Yield10 may determine to adjourn the Special Meeting again, which would require Yield10 to incur additional costs.
Important Information
This material may be deemed to be solicitation material in respect of the Special Meeting to be reconvened and held on November 14, 2024. In connection with the Special Meeting, Yield10 filed with the SEC a definitive proxy statement on October 16, 2024. BEFORE MAKING ANY VOTING DECISIONS, STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE SPECIAL MEETING. A notice of the Special Meeting, a proxy card, and the definitive proxy statement were mailed to stockholders who are entitled to vote at the Special Meeting. No changes have been made to the proposals to be voted on by stockholders at the Special Meeting. Yield10's proxy statement and any other materials filed by Yield10 with the SEC can be obtained free of charge at Yield10's website SEC Filings | Yield10 Bioscience, Inc.or the SEC's website at www.sec.gov.
About Yield10 Bioscience
Yield10 Bioscience, Inc. ("Yield10" or the "Company") is an agricultural bioscience company that is leveraging advanced genetics to develop the oilseed Camelina sativa ("Camelina") as a platform crop for large-scale production of sustainable seed products. These seed products include feedstock oils for renewable diesel and sustainable aviation biofuels and omega-3 (EPA and DHA+EPA) oils for pharmaceutical, nutraceutical and aquafeed applications. Yield10 is headquartered in Woburn, MA. For more information about the company, please visit www.yield10bio.com
(YTEN-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this releasedo not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical, including, without limitation, statements related to the adjourned Special Meeting and Yield10's ability to solicit sufficient votes in favor of the proposals contemplated at such meeting, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the Company's ability to secure adequate funding in the near term to continue operations, as to which no assurance can be given, as well as the risks and uncertainties detailed in Yield10 Bioscience's filings with the SEC. Yield10 assumes no obligation to update any forward-looking information contained in this press release or with respect to the matters described herein.
Contacts:
Yield10 Bioscience
LynneH. Brum, (617) 682-4693 ,LBrum@yield10bio.com
SOURCE: Yield10 Bioscience, Inc.
View the original press release on accesswire.com
FAQ
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