Glass Lewis Backs Zomedica Reverse Stock Split Ahead of Feb 28 Vote

TL;DR

**Glass Lewis recommends Zomedica shareholders vote FOR the reverse stock split.**

AI Summary

Zomedica Corp. (NYSE American: ZOM), a veterinary health company, announced on February 6, 2024, that Glass Lewis, a major independent proxy advisory firm, recommends shareholders vote "FOR" a proposed Share Consolidation (Reverse Stock Split). This recommendation, detailed in Zomedica's definitive proxy statement filed on January 17, 2024, is crucial because it aims to reduce the number of outstanding shares, potentially helping Zomedica maintain its listing on the NYSE American and improve its stock's market perception, which directly impacts current and prospective investors.

Why It Matters

This recommendation from a respected advisory firm could sway shareholder votes, potentially leading to a reverse stock split that impacts Zomedica's stock price and exchange listing status.

Risk Assessment

Risk Level: medium — While a reverse split can help maintain exchange listing, it doesn't guarantee improved company performance or stock price appreciation, and can sometimes be viewed negatively by the market.

Analyst Insight

An investor should monitor the outcome of the February 28, 2024, shareholder meeting and understand the specific ratio of the reverse stock split to assess its potential impact on their holdings and the company's NYSE American listing status.

Key Players & Entities

• Zomedica Corp. (company) — the registrant proposing the reverse stock split
• Glass Lewis (company) — leading independent proxy voting and corporate governance advisory firm
• NYSE American (company) — the stock exchange where Zomedica is listed
• February 6, 2024 (date) — date of the announcement
• January 17, 2024 (date) — date Zomedica's definitive proxy statement was filed
• February 28, 2024 (date) — date of Zomedica's special meeting of shareholders

Forward-Looking Statements

• Shareholders are likely to approve the reverse stock split. (Zomedica Corp. shareholders) — medium confidence, target: February 28, 2024
• Zomedica's stock price will increase post-split due to a higher per-share value. (Zomedica Corp. stock price) — low confidence, target: March 2024

FAQ

Filing Documents

• zom_defa14a.htm (DEFA14A) — 33KB
• 0001654954-24-001407.txt ( ) — 34KB

Forward-Looking Statements

Forward-Looking Statements Except for statements of historical fact, this news release contains certain "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company's products, the Company's ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition. Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the outcome of clinical studies,

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