RegeneRx To Extend Consent Solicitation Vote

Rhea-AI Summary

RegeneRx Biopharmaceuticals announces that 48.5% of outstanding stockholders have voted in favor of the proposed reverse stock split. The company is continuing to solicit consents from stockholders to proceed with the planned reverse stock split.

ROCKVILLE, Md., Aug. 1, 2023 /PRNewswire/ -- RegeneRx Biopharmaceuticals, Inc. (OTC: RGRX) ("RegeneRx" or "Company"), a clinical-stage drug development company focused on tissue protection, repair, and regeneration, announced that, pursuant to the company's consent solicitation dated July 11, 2023, holders of 48.5% of the Company's outstanding stock have voted to date, with 94% voting in favor of the proposed reverse stock split. However, the Company must receive consents from the holders of a majority of the outstanding shares to proceed with the planned reverse stock split. Accordingly, the Company is continuing to solicit consents from stockholders.

J.J. Finkelstein, the Company's CEO, commented, "In order to accomplish our objective, we ask stockholders who have not yet voted pursuant to the consent solicitation to vote FOR the proposal as soon as possible by contacting their brokerage firm or by voting at www.ProxyVote.com, which should take a minimal amount of time." Any questions may be directed to Mr. J.J. Finkelstein at 301.208.9191 or by email to jjfnk@regenerx.com.

Forward-Looking Statements

Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Please view risks described in the Company's filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" section of the annual report on Form 10-K for the year ended December 31, 2022, and subsequent quarterly reports filed on Form 10-Q, as well as other filings it makes with the SEC. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.

RegeneRx:

301.208.9191
jjfnk@regenerx.com

View original content:https://www.prnewswire.com/news-releases/regenerx-to-extend-consent-solicitation-vote-301890689.html

SOURCE RegeneRx Biopharmaceuticals, Inc.

FAQ

What did RegeneRx Biopharmaceuticals announce?

RegeneRx Biopharmaceuticals announced that a significant percentage of outstanding stockholders have voted in favor of the proposed reverse stock split.

What is the purpose of the reverse stock split?

The purpose of the reverse stock split is to consolidate the company's shares and potentially increase their value.

How many stockholders have voted in favor of the reverse stock split?

48.5% of the Company's outstanding stockholders have voted in favor of the reverse stock split.

What percentage of votes is required for the reverse stock split to proceed?

The reverse stock split requires consents from the holders of a majority of the outstanding shares.

How can stockholders vote on the proposal?

Stockholders can vote on the proposal by contacting their brokerage firm or by voting at www.ProxyVote.com.

Who can be contacted for questions?

For any questions, Mr. J.J. Finkelstein can be contacted at 301.208.9191 or by email at jjfnk@regenerx.com.