Sep 12th
$T2 Biosystems (TTOO.US)$ The number of days that Nasdaq will require TTOO stock to close at or above $1 is based on several factors. These include TTOO’s trading volume, price trend, how much it trades above $1 if it does, and the number and size of market makers quoting the stock at or above $1.
Moving on, proposal no. 2 seeks to elect Jack Cumming and David Elsbree as Class III directors until 2026. Proposals no. 3 through no. 5 involve approval for the compensation of the named executive officers, the 2014 Incentive Award Plan, and the 2014 Employee Stock Purchase Plan (ESPP).
Furthermore, proposal no. 5 seeks approval for the CRG debt-to-equity conversion. In July, T2 announced that it had converted roughly 20% of its term loan with CRG entities into TTOO common and Series B convertible preferred stock. The principal amount of the loan was reduced by 10% in exchange for 48.34 million TTOO shares and Series B convertible preferred stock convertible into 93.29 million shares of TTOO. The loan has a maturity date of Dec. 30, 2024.
Next, proposal no. 7 seeks to ratify BDO USA as T2’s independent registered public accounting firm. Finally, proposals no. 8 and no. 9 can be viewed as formalities. They involve adjourning the meeting if the reverse split proposal is not approved and to transact business as usual.
Moving on, proposal no. 2 seeks to elect Jack Cumming and David Elsbree as Class III directors until 2026. Proposals no. 3 through no. 5 involve approval for the compensation of the named executive officers, the 2014 Incentive Award Plan, and the 2014 Employee Stock Purchase Plan (ESPP).
Furthermore, proposal no. 5 seeks approval for the CRG debt-to-equity conversion. In July, T2 announced that it had converted roughly 20% of its term loan with CRG entities into TTOO common and Series B convertible preferred stock. The principal amount of the loan was reduced by 10% in exchange for 48.34 million TTOO shares and Series B convertible preferred stock convertible into 93.29 million shares of TTOO. The loan has a maturity date of Dec. 30, 2024.
Next, proposal no. 7 seeks to ratify BDO USA as T2’s independent registered public accounting firm. Finally, proposals no. 8 and no. 9 can be viewed as formalities. They involve adjourning the meeting if the reverse split proposal is not approved and to transact business as usual.
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