Akebia Therapeutics Files Revised Definitive Proxy Statement for Special Stockholder Meeting
The Special Meeting is being held to vote on several matters including amendments to Akebia's charter to:
- effect a reverse stock split of Akebia's outstanding common stock (Proposal 1(a));
- proportionally decrease the number of authorized shares of Akebia's common stock (Proposal 1(b)); and
- increase by two times (2x) the resulting number of authorized shares of common stock if the amendments to effect the reverse stock split and the proportional decrease in authorized shares are effected (Proposal 2).
The revised proxy statement and proxy card replace the proxy statement and proxy card previously provided on or about
NOTICE FOR STOCKHOLDERS: If you have already voted using the prior proxy card, you must vote again using the revised proxy card in order for your vote to be counted.
Akebia's board of directors strongly recommends that stockholders vote "FOR" each of the proposals presented at the Special Meeting. Additionally, an "Update for Stockholders" presentation will be available via the Investors section of Akebia's website at: https://ir.akebia.com.
If approved by stockholders and implemented by Akebia's board of directors, a reverse stock split would be executed with the primary purpose to increase the price per share of Akebia's common stock to, among other things, enable Akebia to comply with the Nasdaq continued listing requirements and avoid delisting. A vote to proportionally decrease the number of authorized shares in Proposal 1(b) would more appropriately align the number of authorized but unissued shares with Akebia's needs and stockholder expectations.
In the event Akebia is delisted from Nasdaq, the only established trading market for its common stock would be eliminated, and Akebia would be forced to list its shares on the OTC Markets or another quotation medium, depending on its ability to meet the specific listing requirements of those quotation systems. As a result, an investor would likely find it more difficult to trade or obtain accurate price quotations for Akebia shares. Delisting would likely also reduce the visibility, liquidity, and value of Akebia's common stock, reduce institutional investor interest in the company, and may increase the volatility of the common stock. Delisting could also cause a loss of confidence of potential industry partners, lenders, and employees, which could further harm Akebia's business and future prospects.
Additional Information and Exercising Your Vote
IF YOU HAVE ALREADY VOTED USING THE PRIOR PROXY CARD, YOU MUST VOTE AGAIN USING THE REVISED PROXY CARD IN ORDER FOR YOU VOTE TO BE COUNTED.
VOTE BY INTERNET
Before The Meeting - Go to www.proxyvote.com
Use the Internet to transmit your voting instructions and for electronic delivery of information. Vote by
During The Meeting - Go to www.virtualshareholdermeeting.com/AKBA2023SM
You may attend the meeting via the Internet and vote during the meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions.
VOTE BY PHONE - 1-800-690-6903
Use any touch-tone telephone to transmit your voting instructions. Vote by
VOTE BY MAIL
Mark, sign and date your proxy card and return it in the postage-paid envelope provided or return it to Vote Processing, c/o Broadridge,
Forward Looking Statements
Statements in this press release regarding Akebia
Akebia Therapeutics Contact
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