ISS Backs Zomedica Reverse Split to Maintain NYSE American Listing

TL;DR

**ISS recommends Zomedica shareholders vote FOR the reverse stock split to avoid delisting from NYSE American.**

AI Summary

Zomedica Corp. (NYSE American: ZOM), a veterinary health company, announced on January 25, 2024, that Institutional Shareholder Services (ISS) recommends shareholders vote "FOR" a proposed reverse stock split. This recommendation is crucial because, as ISS noted, the reverse stock split is necessary for Zomedica to maintain its listing on the NYSE American exchange. For investors, this means a "FOR" vote could prevent the stock from being delisted, which would severely impact its liquidity and potentially its value.

Why It Matters

Maintaining the NYSE American listing is critical for Zomedica's stock liquidity and investor confidence; delisting could make it much harder to buy or sell shares.

Risk Assessment

Risk Level: high — Failure to pass the reverse stock split proposal carries the high risk of Zomedica's stock being delisted from the NYSE American, significantly harming its tradability and value.

Analyst Insight

An investor should carefully review the definitive proxy statement filed on January 17, 2024, to understand the full implications of the reverse stock split and consider the potential impact on their share count and the stock's future liquidity, especially given the ISS recommendation to maintain exchange listing.

Key Players & Entities

• Zomedica Corp. (company) — the registrant and company proposing the reverse stock split
• Institutional Shareholder Services (company) — leading independent proxy voting and corporate governance advisory firm
• NYSE American (company) — the stock exchange where Zomedica's common stock is listed
• January 25, 2024 (date) — date of ISS report and Zomedica's announcement
• February 28, 2024 (date) — date of the Special Virtual-only Meeting of Shareholders
• 1:00 pm EST (time) — time of the Special Virtual-only Meeting of Shareholders

Forward-Looking Statements

• Zomedica's reverse stock split proposal will pass. (Zomedica Corp.) — medium confidence, target: February 28, 2024
• Zomedica will maintain its listing on the NYSE American. (Zomedica Corp.) — medium confidence, target: Post-February 28, 2024

FAQ

Filing Documents

• zom_def14a.htm (DEFA14A) — 25KB
• 0001654954-24-000937.txt ( ) — 26KB

From the Filing

zom_def14a.htm United States Securities and Exchange Commission Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 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 Materials under 240.14a-12 ZOMEDICA CORP. (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 all boxes that apply): 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 Leading Proxy Advisory Firm ISS Recommends Zomedica Shareholders Vote "FOR" Proposed Reverse Stock Split ANN ARBOR, MI / ACCESSWIRE / January 25, 2024 / Zomedica Corp. (NYSE American:ZOM) ("Zomedica" or the "Company"), a veterinary health company offering point-of-care diagnostics and therapeutic products for equine and companion animals, today announced that Institutional Shareholder Services ("ISS"), a leading independent proxy voting and corporate governance advisory firm, recommends that Zomedica Corp. shareholders vote "FOR" the proposed Share Consolidation/Reverse Stock Split detailed in the Company's definitive proxy statement filed on January 17, 2024. The Company's upcoming Special Virtual-only Meeting of Shareholders is scheduled to be held on February 28, 2024, at 1:00 pm EST. In its report dated January 25, 2024, ISS noted that, "A vote FOR this proposal is warranted given that the reverse stock split may enable the company to maintain listing of its common stock on the NYSE American." Larry Heaton, Chief Executive Officer of Zomedica, commented, "We are pleased that ISS recommends that our stockholders vote in favor of the reverse stock split. ISS recognizes that the reverse split will enable us to avoid delisting from the NYSE American, which we believe would adversely impact the Company's market valuation and our shareholders' liquidity. We believe that in addition the reverse split will enable Zomedica to attract a broader range of investors, draw equity research analyst interest, and be considered for inclusion in stock indices. Your vote FOR' the proposal will allow us to stay focused on growing the business towards profitability while helping pets and pet parents get the best care from their veterinarians. We urge all shareholders to follow the recommendation of ISS and vote FOR' the proposed reverse split today." Zomedica's proxy and voting materials are being distributed by various parties to investors, and to brokerage firms holding shares on behalf of investors in street name. Investors are encouraged to reach out to their respective financial institutions for additional information and to obtain their proxy materials if they are not received by the end of this week. The Zomedica Board of Directors strongly recommends that stockholders approve the Reverse Stock Split and encourages stockholders to vote as promptly as possible. Stockholders can vote by mail, Internet or telephone according to the instructions on each Internet Notice, proxy card or voting instruction card received. Proxy materials are available at https://www.meetingdocuments.com/TSXT/ZOM. Zomedica reminds stockholders that every vote is important , no matter how many or few shares it represents. If you have already submitted a proxy, you may change your vote prior to the Special Meeting by voting again using the same materials. Only your latest dated vote counts. 2 About Zomedica Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for horses, dogs, and cats by focusing on the unmet needs of clinical veterinarians. Zomedica's product portfolio includes innovative diagnostics and medical devices that emphasize patient health and practice health. Zomedica's mission is to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.zomedica.com . Additional Information and Where to Find It This communication may be deemed solicitation material in respect of the Special Meeting of Shareholders of the Company scheduled to be held on February 28, 2024 to vote on an amendment to the Company's Articles of Incorporation, as amended, to effect, at the discretion of the Board of Directors (the "Board"), a reverse stock split of the Company's common stock without nominal or par value at a ratio in the range of 1-for-80. In connection with the Special Meeting of Shareholders, the Company filed with the Securities and Exchange Commission (the "SEC") and m

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