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CytoDyn Inc. Announces Adjournment of Annual Meeting of Shareholders to November 24, 2021 Due to Lack of Quorum

CytoDyn Inc. (OTCQB: CYDY) (the “Company”), a late-stage biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today convened and then adjourned the 2021 Annual Meeting of Shareholders (the “Annual Meeting”) without transacting any other business. The Annual Meeting was adjourned to be held virtually on Wednesday, November 24, 2021 at 8:00 a.m. Pacific Time. The adjournment provides the Company with additional time to solicit proxies from its shareholders to achieve a quorum at the Annual Meeting.

The transaction of business at the Annual Meeting requires a quorum of more than one-half of the outstanding shares of the Company entitled to vote, represented in person or by proxy. Based on a determination by the inspector of election, there was no quorum present at the Annual Meeting. The activist group led by Paul Rosenbaum and Bruce Patterson (the “Activist Group”) failed to submit its proxies to the inspector of election. If the Activist Group had submitted their proxies, the Company believes there would have been a quorum at the Annual Meeting. The Company believes that the Activist Group’s conduct is in violation of the federal securities laws and reserves all rights related thereto.

The record date for the adjourned Annual Meeting remains the close of business on September 1, 2021. Shareholders who have already voted do not need to recast their votes unless they wish to change their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked. Shareholders who have not already voted or wish to change their vote are encouraged to do so promptly using the instructions provided in their voting instruction form or proxy card.

The Company urges all shareholders to vote their shares immediately on the Company’s BLUE proxy card upon receipt of proxy material to ensure their votes count in time for the new Annual Meeting date. If you have any questions or require any assistance in voting your shares, please contact our proxy solicitor:

Morrow Sodali LLC
Stockholders Call Toll Free: (800) 662-5200
Banks, Brokers, Trustees and Other Nominees Call Collect: (203) 658-9400
Email: cydy@info.morrowsodali.com

About CytoDyn

CytoDyn is a late-stage biotechnology company developing innovative treatments for multiple therapeutic indications using leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. CCR5 plays a critical role in the ability of HIV to enter and infect healthy T-cells and appears to be implicated in tumor metastasis and immune-mediated illnesses, such as NASH.

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Nachrichtenquelle: Business Wire (engl.)
28.10.2021, 17:08  |  157   |   |   

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CytoDyn Inc. Announces Adjournment of Annual Meeting of Shareholders to November 24, 2021 Due to Lack of Quorum CytoDyn Inc. (OTCQB: CYDY) (the “Company”), a late-stage biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today convened and then adjourned the 2021 Annual Meeting of …

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