Nuwellis (Nasdaq:NUWE) announced today that it convened and adjourned its meeting of stockholders due to a failure to reach a quorum.
The fluid overload treatment developer held the meeting on Dec. 7 without any business conducted due to the lack of quorum.
Minneapolis-based Nuwellis develops the Aquadex SmartFlow system for ultrafiltration therapy. The company describes Aquadex SmartFlow as a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload).
Nuwellis said its quorum consists of one-third of the outstanding shares entitled to vote. Fewer than one-third of outstanding shares attended, either virtually or represented by proxy, at the special meeting. During the period of adjournment, the company intends to continue soliciting votes from its stockholders. This occurs with respect to the proposals set forth in its proxy statement.
Only Nuwellis stockholders as of the record date (Oct. 13, 2022), are entitled to and are being requested to vote. At the time of meeting adjournment, proxies submitted represented approximately 31.69% of the outstanding shares. Proxies previously submitted will be voted at the adjourned meeting unless properly revoked. Nuwellis stockholders who previously submitted a proxy or otherwise voted need not take action.
Nuwellis encourages all stockholders of record on Oct. 13, 2022, who have not voted, to do so before Jan. 3, 2023 at 10:59 p.m., Central Time.