BPTH Convenes Special Meeting for Up to 1-for-50 Reverse Stock Split

TL;DR

**BPTH is pushing for a reverse stock split up to 1-for-50 to boost its share price.**

AI Summary

Bio-Path Holdings, Inc. (BPTH) held a Special Meeting on January 22, 2024, to vote on a reverse stock split of up to 1-for-50 shares and to approve an adjournment if needed to gather more votes for the split. The meeting was convened with a quorum present, indicating the company is moving forward with these critical proposals. This matters to investors because a reverse stock split typically aims to increase the stock price to meet exchange listing requirements, but it doesn't change the company's overall value and can sometimes signal underlying financial distress.

Why It Matters

A reverse stock split can prevent delisting but often dilutes shareholder confidence and doesn't fundamentally improve the company's business operations or financial health.

Risk Assessment

Risk Level: high — Reverse stock splits are often a last resort for companies facing delisting, indicating significant challenges and potential further stock price declines.

Analyst Insight

Investors should view this filing as a strong indicator of potential financial distress and consider the implications of a reverse stock split on their investment, including potential further price volatility and lack of fundamental improvement.

Key Numbers

• 1-for-50 — Reverse Stock Split Ratio (The maximum ratio for the proposed reverse stock split of common stock.)
• $0.001 — Par Value per Share (The par value of Bio-Path Holdings, Inc.'s common stock.)

Key Players & Entities

• Bio-Path Holdings, Inc. (company) — the Registrant
• January 22, 2024 (date) — date of the Special Meeting
• 1-for-50 (number) — maximum ratio for the proposed reverse stock split
• $0.001 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• Bio-Path Holdings, Inc. will likely proceed with a reverse stock split to maintain its listing on a major exchange. (Bio-Path Holdings, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — Company’s common stock, par value $0.001 per share, at a ratio of up to 1-for-50

Filing Documents

• tm243965d1_defa14a.htm (DEFA14A) — 13KB
• 0001104659-24-005965.txt ( ) — 14KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under §240.14a-12 Bio-Path Holdings, Inc. (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Bio-Path Holdings, Inc. 4710 Bellaire Boulevard, Suite 210 Bellaire, Texas 77401                  January 23, 2024 On January 22, 2024, Bio-Path Holdings, Inc. (the “Company”) convened a special meeting (the “Special Meeting”) of stockholders of the Company at which a quorum was present. The Special Meeting was called for the following purposes: 1. To approve an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s common stock, par value $0.001 per share, at a ratio of up to 1-for-50, to be determined by the Board (“Proposal One”); and 2. To approve an adjournment of the Special Meeting to a later date or dates, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal One (“Proposal Two”). At the Special Meeting, the sole item of business presented to stockholders for consideration was a vote on Proposal Two, which was approved by the stockholders. In accordance with the authority granted pursuant to Proposal Two, the Special Meeting was adjourned with respect to Proposal One to solicit additional proxies in favor of Proposal One. As announced at the Special Meeting, the Special Meeting will reconvene on January 30, 2024 at 4:00 p.m., Central Standard Time, at Winstead PC, 24 Waterway Avenue, Suite 500, The Woodlands, Texas 77380 (the “Reconvened Meeting”). The sole matter of business before the Reconvened Meeting will be a vote on Proposal One, subject to any further adjournments to continue to solicit additional proxies in favor of Proposal One. The Company believes that allowing additional time for stockholders to submit proxies with respect to Proposal One is in the interest of the stockholders. The Company will continue to solicit proxies from stockholders with respect Proposal One. The Board recommends that stockholders vote “FOR” Proposal One. The record date for determining stockholders eligible to vote on Proposal One remains December 28, 2023. If you have voted by proxy already, your vote will be counted and there is no need to take any further action. If for any reason you wish to revoke your proxy with respect to Proposal One, please follow the instructions in the Company’s definitive proxy statement as filed with the Securities and Exchange Commission (the “Proxy Statement”), dated January 4, 2024. The Company urges any eligible stockholder that has not yet voted their shares on Proposal One to do so promptly, regardless of whether such stockholder expects to attend the Reconvened Meeting.

View Full Filing

View this DEFA14A filing on SEC EDGAR