ImmunoCellular Therapeutics Announces Results of Special Meeting of Stockholders Held June 26, 2020
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Los Angeles, CA July 2, 2020 -- ImmunoCellular Therapeutics, Ltd. (“ImmunoCellular”) (OTC: IMUC), today announced that, based on the vote count following the Special Meeting of Stockholders held June 26, 2020, stockholders voted in favor of the proposal to approve an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio not less than l-for-3 and not greater than 1-for-10, with the exact ratio to be set within that range at the discretion of its Board of Directors on or before December 31, 2020 without further approval or authorization of its stockholders.
The Company believes that it is advisable and in the best interests of the Company and its stockholders to effect the reverse stock split in order to provide the Company with the ability to consider future strategic arrangements by reducing the number of issued and outstanding shares of capital stock. However, no timeline has been set as to when the reverse stock split will be implemented.
Forward-Looking Statements for ImmunoCellular Therapeutics
This press release contains certain forward-looking statements, including statements regarding ImmunoCellular's intentions and current expectations concerning the potential of a reverse stock split. All statements other than statements of historical facts included in this release regarding ImmunoCellular’s potential reverse stock split are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including the following: the possibility that the Board may determine not to effect the reverse stock split or that the reverse stock split may not have its intended effects, if implemented. In addition, any forward-looking statements included in this press release represent ImmunoCellular’s views only as of the date of this release and should not be relied upon as representing ImmunoCellular’s views as of any subsequent date. Except as required by law, ImmunoCellular undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ImmunoCellular Therapeutics, Ltd.
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