TransCode Therapeutics, Inc. has announced a Special Meeting of Stockholders to be held virtually in November 2024, with the exact date yet to be determined. The meeting will address three key proposals: the ratification of a securities issuance and sale agreement with ThinkEquity LLC, an amendment to the company's certificate of incorporation to effect a reverse stock split, and a proposal to adjourn the meeting if necessary to solicit additional votes. The reverse stock split aims to increase the market price of TransCode's common stock to comply with Nasdaq's minimum bid price requirement. The board has approved the reverse stock split, with the ratio to be determined by the board within a range of 1-for-10 to 1-for-40. The...Show More

TransCode Therapeutics, Inc. has announced a Special Meeting of Stockholders to be held virtually in November 2024, with the exact date yet to be determined. The meeting will address three key proposals: the ratification of a securities issuance and sale agreement with ThinkEquity LLC, an amendment to the company's certificate of incorporation to effect a reverse stock split, and a proposal to adjourn the meeting if necessary to solicit additional votes. The reverse stock split aims to increase the market price of TransCode's common stock to comply with Nasdaq's minimum bid price requirement. The board has approved the reverse stock split, with the ratio to be determined by the board within a range of 1-for-10 to 1-for-40. The ratification proposal seeks to address a compliance issue with Nasdaq Listing Rule 5635(d), which requires shareholder approval for certain transactions. The adjournment proposal would allow the meeting to be postponed to secure sufficient votes for the ratification or reverse stock split proposals if initially there are not enough votes. The board has recommended stockholders vote in favor of all three proposals. The preliminary proxy statement, dated October 15, 2024, is subject to completion, and the company has begun mailing proxy materials to stockholders as of October 2024.