CVRx Seeks Shareholder Approval for Stock Increase
Ticker: CVRX · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1235912
| Field | Detail |
|---|---|
| Company | Cvrx, Inc. (CVRX) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: stock-increase, shareholder-meeting, corporate-governance
Related Tickers: CVRX
TL;DR
CVRx wants to double its stock, needs your vote July 10th.
AI Summary
On June 4, 2024, CVRx, Inc. filed an 8-K report detailing a special meeting of stockholders scheduled for July 10, 2024. The primary purpose of this meeting is to vote on a proposed amendment to the company's Certificate of Incorporation to increase the number of authorized shares of common stock from 100,000,000 to 200,000,000.
Why It Matters
This move by CVRx, Inc. could signal future fundraising or stock-based compensation plans, potentially impacting existing shareholders through dilution.
Risk Assessment
Risk Level: medium — Increasing authorized shares can lead to dilution if new shares are issued, potentially impacting the value of existing shares.
Key Numbers
- 200,000,000 — Proposed Authorized Shares (CVRx is seeking to increase its authorized common stock from 100,000,000 to this amount.)
- July 10, 2024 — Special Meeting Date (Shareholders will vote on the proposed stock increase on this date.)
Key Players & Entities
- CVRx, Inc. (company) — Registrant
- June 4, 2024 (date) — Report Date
- July 10, 2024 (date) — Special Meeting Date
- 100,000,000 (dollar_amount) — Current Authorized Shares
- 200,000,000 (dollar_amount) — Proposed Authorized Shares
FAQ
What is the primary purpose of the special meeting of stockholders on July 10, 2024?
The primary purpose is to vote on a proposed amendment to CVRx, Inc.'s Certificate of Incorporation to increase the number of authorized shares of common stock.
What is the proposed increase in authorized shares?
CVRx, Inc. proposes to increase the authorized shares from 100,000,000 to 200,000,000.
When is the report filed?
The report was filed on June 4, 2024.
What is the current number of authorized shares?
The current number of authorized shares of common stock for CVRx, Inc. is 100,000,000.
What action is required from shareholders?
Shareholders are required to vote on the proposed amendment to increase the number of authorized shares.
Filing Stats: 646 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2024-06-07 16:16:24
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share CVRX The Nasdaq Global S
Filing Documents
- tm2416672d1_8k.htm (8-K) — 33KB
- tm2416672d1_ex3-1.htm (EX-3.1) — 58KB
- 0001104659-24-069657.txt ( ) — 279KB
- cvrx-20240604.xsd (EX-101.SCH) — 3KB
- cvrx-20240604_lab.xml (EX-101.LAB) — 33KB
- cvrx-20240604_pre.xml (EX-101.PRE) — 22KB
- tm2416672d1_8k_htm.xml (XML) — 4KB
03. Amendments to Articles of Incorporation or Bylaws; Change
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On June 4, 2024, CVRx, Inc. (the "Company") held its 2024 annual meeting of stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders approved, among other things, an amendment to the Company's Amended and Restated Certificate of Incorporation to allow for officer exculpation as permitted by Delaware law. The Restated Certificate of Incorporation, as amended and restated to incorporate the amendment referred to above, is attached hereto as Exhibit 3.1.
07. Submission of Matters to a Vote
Item 5.07. Submission of Matters to a Vote of Security Holders. Voting results for each matter submitted to a vote at the Annual Meeting are provided below. Proposal 1. Election of Directors. The three nominees for Class III director were elected to serve until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified, by the votes set forth in the table below. Nominee For Withheld Broker Non-Votes Mudit Jain 13,883,762 2,421,226 3,595,943 Kirk Nielsen 14,013,619 2,291,369 3,595,943 Martha Shadan 14,432,067 1,872,921 3,595,943 Proposal 2. The stockholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, by the votes set forth in the table below. For Against Abstain 19,742,360 117,720 40,851 Proposal 3. The stockholders approved the amendment to the Company's Amended and Restated Certificate of Incorporation to allow for officer exculpation as permitted by Delaware law, by the votes set forth in the table below. For Against Abstain Broker Non-Votes 15,305,349 991,488 8,151 3,595,943
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 3.1 Restated Certificate of Incorporation of CVRx, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CVRx, Inc. Date: June 7, 2024 By: /s/ Jared Oasheim Name: Jared Oasheim Its: Chief Financial Officer