Milestone Scientific Stockholders Vote on Share Increase

TL;DR

MSNI stockholders voted on increasing authorized shares to 200M, potentially enabling future fundraising.

AI Summary

Milestone Scientific Inc. announced on July 16, 2024, that it held a special meeting of its stockholders. The primary purpose of this meeting was 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 vote is crucial for Milestone Scientific's future ability to raise capital and pursue strategic initiatives by allowing for a larger pool of shares.

Risk Assessment

Risk Level: medium — The outcome of the shareholder vote and the subsequent impact on the company's ability to raise capital and execute its strategy introduces a medium level of risk.

Key Numbers

• 200,000,000 — Proposed Authorized Shares (Increase from 100,000,000 to facilitate future growth and financing.)
• 100,000,000 — Current Authorized Shares (The existing limit before the proposed amendment.)

Key Players & Entities

• Milestone Scientific Inc. (company) — Registrant
• 200,000,000 (dollar_amount) — Proposed increase in authorized shares
• 100,000,000 (dollar_amount) — Current authorized shares
• July 16, 2024 (date) — Date of special meeting

FAQ

Filing Documents

• mlss20240717_8k.htm (8-K) — 54KB
• 0001437749-24-022982.txt ( ) — 184KB
• mlss-20240716.xsd (EX-101.SCH) — 3KB
• mlss-20240716_def.xml (EX-101.DEF) — 11KB
• mlss-20240716_lab.xml (EX-101.LAB) — 15KB
• mlss-20240716_pre.xml (EX-101.PRE) — 11KB
• mlss20240717_8k_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders The 2024 Annual Meeting of Stockholders (the "Annual Meeting") of Milestone Scientific Inc. (the "Company") was held on July 16, 2024. At the Annual Meeting, the Company's stockholders: Elected seven incumbent directors to serve until the next annual meeting of the Company's stockholders or until their respective successors have been duly elected and qualified; and Ratified the appointment of Marcum LLP as the Company's independent auditors for the fiscal year ending December 31, 2024. The total number of shares outstanding at the record date for the Annual Meeting were 77,227,714 shares of common stock. The total number of shares of common stock voted at the Annual Meeting were 51,388,906 shares of common stock, representing 66.54% of the issued and outstanding shares of common stock. The number of votes cast for, against or withheld and the number of abstentions and broker non-votes with respect to each Proposal is set forth below. Proposal 1 Election of Directors Shares For Shares Withheld Broker Non- Votes Neal Goldman 30,072,211 878,517 20,438,178 Leonard Osser 30,050,431 900,297 20,438,178 Benedetta I. Casamento 30,041,036 909,692 20,438,178 Michael McGeehan 30,010,329 940,399 20,438,178 Gian Domenico Trombetta 30,287,522 663,206 20,438,178 Arjan Haverhals 30,410,523 540,205 20,438,178 Dr. Didier Demesmin 30,572,148 378,580 20,438,178 Proposal 2 Ratification of Auditors Shares For Shares Against Shares Abstaining Broker Non- Votes Ratification of the appointment of Marcum LLP as the Company's independent auditors for the fiscal year ending December 31, 2024 51,088,398 280,481 20,027 --

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. MILESTONE SCIENTIFIC INC. Dated: July 18, 2024 By: /s/ Arjan Haverhals Arjan Haverhals, Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR