Precipio is requesting Shareholders/Brokers vote today to avoid costly adjournment and rescheduling of Annual Shareholders Meeting

Rhea-AI Summary

Precipio (NASDAQ: PRPO) is urgently requesting shareholders to vote their shares by 11 PM ET on June 16, 2025, ahead of their Annual Shareholders Meeting scheduled for June 17, 2025. Currently, only 42% of shares have been voted, falling short of the 50% quorum requirement. The company warns that failing to reach quorum would force meeting adjournment, potentially incurring significant costs of up to $100,000 for rescheduling, compared to the current meeting cost of less than $5,000. These additional expenses would include hiring a proxy solicitor, legal fees, and administrative costs. Management emphasizes that shareholders can vote either for or against, but voting participation is crucial to avoid unnecessary expenditures.

Positive

• Current meeting costs are relatively low at less than $5,000

Negative

• Only 42% of shares voted, below 50% quorum requirement
• Risk of incurring up to $100,000 in additional costs if meeting is rescheduled
• Potential delay in important corporate governance decisions if meeting is adjourned

NEW HAVEN, Conn., June 16, 2025 (GLOBE NEWSWIRE) -- Management of specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) is requesting that shareholders instruct their brokers to vote their shares immediately today, no later than 11 pm Eastern Time.

In order to ensure that there is a quorum required for the shareholders’ meeting that is scheduled to take place tomorrow, June 17, 2025, at 10 a.m. Eastern Time.

At the time of this press release, approximately 42% of shares have been voted. For the company to hold the shareholder meeting, a minimum of 50% of shares must be voted.

If the company is forced to adjourn the shareholder meeting due to insufficient votes, the costs of rescheduling the meeting, which include hiring a proxy solicitor, legal and other administrative costs could be as high as $100,000 (the current shareholder meeting costs less than $5,000). Management would like to avoid these unnecessary expenditures. Regardless of whether you instruct your broker to vote for or against, PLEASE VOTE TODAY BY 11 p.m. Eastern Time to ensure that the quorum requirement is met, and the costs of a rescheduled meeting are avoided.

About Precipio

Precipio is a healthcare biotechnology company focused on cancer diagnostics. Our mission is to address the pervasive problem of cancer misdiagnoses by developing solutions in the form of diagnostic products and services. Our products and services deliver higher accuracy, improved laboratory workflow, and ultimately better patient outcomes, which reduce healthcare expenses. Precipio develops innovative technologies in our laboratory where we design, test, validate, and use these products clinically, improving diagnostic outcomes. Precipio then commercializes these technologies as proprietary products that serve the global laboratory community and further scales Precipio’s reach to eradicate misdiagnosis.

Availability of Other Information About Precipio

For more information, please visit the Precipio website at https://www.precipiodx.com/ or follow Precipio on X (formerly Twitter) (@PrecipioDx) and LinkedIn (Precipio) and on Facebook. Investors and others should note that we communicate with our investors and the public using our company website (https://www.precipiodx.com), including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on X and LinkedIn. The information that we post on our website or on X or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the targets set herein and related timing. Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, adjusted EBITDA, plans, objectives, expectations, growth or profitability and our potential to reach financial independence are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and our other reports filed with the U.S. Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates as of the date of this press release only. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Inquiries:

investors@precipiodx.com

+1-203-787-7888 Ext. 523

FAQ

What is the voting deadline for Precipio (PRPO) shareholders meeting on June 17, 2025?

Shareholders must vote by 11 PM Eastern Time on June 16, 2025

What percentage of Precipio (PRPO) shares need to be voted for quorum?

A minimum of 50% of shares must be voted to achieve quorum

How much will it cost Precipio if the shareholder meeting is rescheduled?

Rescheduling costs could reach up to $100,000, compared to current meeting costs of less than $5,000

What is the current percentage of Precipio (PRPO) shares voted for the June 2025 meeting?

Approximately 42% of shares have been voted

What additional costs would Precipio incur if the meeting is rescheduled?

Additional costs would include hiring a proxy solicitor, legal fees, and other administrative expenses