Fresh Tracks Therapeutics Announces Adjournment of Special Meeting of Stockholders

Meeting adjourned to November 30, 2023 at 10 a.m. MT

Fresh Tracks encourages all stockholders of record on October 17, 2023 who have not yet voted to do so by 11:59 p.m. Eastern Time on November 29, 2023

Company intends to seek judicial dissolution if the liquidation and dissolution is not approved by Fresh Tracks’ stockholders, which would reduce the amount of cash distributable to the stockholders

BOULDER, Colo., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Fresh Tracks Therapeutics, Inc. (Nasdaq: FRTX) (“Fresh Tracks” or the “Company”) announced today that its special meeting of stockholders (the “Special Meeting”) has been adjourned to Thursday, November 30, 2023 at 10 a.m. Mountain Time with respect to both proposals described in Fresh Tracks’ definitive proxy statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 20, 2023 (the “Proxy Statement”).

The reconvened Special Meeting on November 30, 2023 will continue to be held via live webcast at www.virtualshareholdermeeting.com/FRTX2023SM. In addition, the record date for determining stockholders entitled to vote at the Special Meeting will remain the close of business on October 17, 2023.

During the current adjournment, Fresh Tracks continues to solicit votes from its stockholders with respect to both proposals set forth in the Proxy Statement. At the time the Special Meeting was adjourned, proxies and votes had been submitted by stockholders representing approximately 39.6% of the shares of Fresh Tracks’ common stock outstanding and entitled to vote, which was not sufficient to approve Proposal 1, Approval of the Liquidation and Dissolution of the Company and the Plan of Liquidation and Dissolution (the “Plan of Dissolution”), which, if approved, will authorize the Company and the Board of Directors to Liquidate and Dissolve the Company in accordance with the Plan of Dissolution, which requires approval by the holders of a majority of the outstanding shares of common stock of Fresh Tracks.

Proxies previously submitted with respect to the Special Meeting will be voted on both proposals at the reconvened Special Meeting as indicated therein, unless properly revoked, and stockholders who have previously submitted a proxy need not take any action.

Fresh Tracks encourages all stockholders of record on October 17, 2023 who have not yet voted to submit their proxy by 11:59 p.m. Eastern Time on November 29, 2023. If Fresh Tracks’ stockholders do not approve Proposal 1, Fresh Tracks intends to seek judicial dissolution, which is likely to be costly and time-consuming and would reduce the amount of cash distributable to Fresh Tracks’ stockholders associated with the Company’s dissolution.