Jaguar Health Inc (NASDAQ:JAGX) stock is moving lower a bit in the opening session on Monday. The stock has gained about 45% in the past month.
Major Trigger:
Jaguar Health Announces Adjournment of Annual Meeting of Stockholders Until Friday, July 9, 2021 and Encourages All Shareholders to Vote
Key Highlights:
- announced that it has adjourned its Annual Meeting of Stockholders held on May 13, 2021 (the “Annual Meeting”) for a second time due to a lack of quorum. The adjourned meeting will be held at 8:30 a.m. Pacific Standard Time/11:30 a.m. Eastern Standard Time on Friday, July 9, 2021, at the offices of the Company at 200 Pine Street, Suite 400, San Francisco, CA 94104.
- The record date for determining stockholders eligible to vote at the Annual Meeting will remain the close of business on April 12, 2021. Stockholders have thus far strongly supported the proposals.
- No action is required by any stockholder who has previously delivered a proxy and who does not wish to revoke or change that proxy.
Key Quote:
“We currently have less than 0.1% of our total authorized shares of Common Stock available for future issuance, taking into account shares issued and outstanding and shares reserved for issuance upon exercise of outstanding warrants, existing equity incentive awards, and under our stock incentive plan and inducement award plans. The Board believes that approval of Proposal 3 – the proposed increase in the number of authorized shares of Common Stock – will benefit us by providing flexibility in responding to future business opportunities as the Board may deem in the best interest of shareholders, from time to time; and also, if deemed in the best interest of shareholders by the Board, to raise additional capital from time to time to execute our business plans,” said Lisa Conte, Jaguar’s president and CEO.
Market Reactions
As of 10:13, JAGX stock fell by 3.40% at $1.8450. Total volume so far stood at 3.72 million shares, compared to its average volume of 11.80 million shares. The stock moved within a range of $1.8100 – 1.9700 after opening at $1.94.
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