Vincerx Pharma, Inc. Announces Adjournment of Special Meeting - Will Reconvene Meeting on July 16, 2025 to Secure Votes Needed to Approve Dissolution Proposal

Rhea-AI Summary

Vincerx Pharma (OTC Pink: VINC) announced the adjournment of its Special Meeting of Stockholders to July 16, 2025, seeking additional time to secure votes for the company's Dissolution Proposal. The board unanimously recommends stockholders vote FOR the proposal, emphasizing that delays will increase operating costs and potentially eliminate any remaining funds for stockholder distributions. Acting CEO Dr. Raquel Izumi stressed the importance of approving the dissolution to maximize the possibility of shareholders receiving some value for their shares. The company has provided multiple voting methods including phone and internet options. If approved, U.S. stockholders may be eligible for capital loss tax benefits if distributions are less than their tax basis.

Positive

• Potential for remaining cash distributions to stockholders if dissolution is approved quickly
• U.S. stockholders may be eligible for capital loss tax benefits
• Multiple convenient voting methods provided for stockholders

Negative

• Company is seeking dissolution and winding down of operations
• Continued delays reduce or may eliminate funds available for stockholder distributions
• Risk of potential bankruptcy if dissolution is not approved
• Ongoing public company costs and operating expenses continue to deplete remaining funds

Failure to approve Dissolution Proposal will reduce or eliminate any potential distributions to stockholders

SAN MATEO, Calif., June 18, 2025 (GLOBE NEWSWIRE) -- Vincerx Pharma, Inc. (OTC Pink: VINC) today announced that the Special Meeting of Stockholders to consider a proposal to approve the liquidation and dissolution of Vincerx (the “Dissolution Proposal”), which was originally scheduled for earlier today, has been adjourned until 10:00 a.m., Pacific time, on July 16, 2025 via live audio webcast at www.virtualshareholdermeeting.com/VINC2025SM2. The adjournment will allow Vincerx more time to solicit the votes needed to approve the Dissolution Proposal.

Vincerx is urging ALL stockholders to vote IMMEDIATELY FOR the Dissolution Proposal.

Vincerx’s board of directors unanimously recommends that stockholders vote FOR the Dissolution Proposal and believes that approval of the Dissolution Proposal is extremely important to stockholders for a number of reasons, including the following:

• Preserve Possibility of Distributions. Vincerx is hopeful that cash will be available for distribution to its stockholders. However, further delays in approving the Dissolution Proposal will result in continued public company and other operating costs and expenses - reducing or eliminating what funds could remain for distribution to stockholders. Approving the Dissolution Proposal will allow Vincerx to move forward expeditiously and maximize the likelihood of a distribution to its stockholders.
• Recognize Potential Tax Benefits. U.S. stockholders who receive less than their tax basis in their shares could be eligible to recognize a capital loss for U.S. federal income tax purposes. Timely approval of the Dissolution Proposal will facilitate this recognition.

“We believe it is extremely important that our stockholders vote FOR the Dissolution Proposal,” said Dr. Raquel Izumi, Acting CEO. “We understand the disappointment that all of us who are stockholders and supported the company over the years feel, but approving the Dissolution Proposal at least gives stockholders the possibility of receiving some value for their shares. Delaying approval of the Dissolution Proposal will simply result in the company continuing to incur ongoing operating costs and expenses, which will only reduce or even eliminate the likelihood that there will be any amounts left for distribution to stockholders. We therefore urge all stockholders to vote FOR the Dissolution Proposal before the reconvened meeting on July 16, 2025.”

Every vote matters. Stockholders must ACTIVELY VOTE for their vote to count. Any delay in approving the Dissolution Proposal will result in increased expenditures and reduce the likelihood that amounts will be available for distribution to stockholders.

Voting is quick and simple:

• BY PHONE: Please call Advantage Proxy, Vincerx’s proxy solicitor, toll-free at 1-877-870-8565 between the hours of 9:00 a.m. and 9:00 p.m., Eastern Time, Monday through Friday. You can also contact Advantage Proxy if you have any questions about voting.
• BY INTERNET: Vote by going to www.proxyvote.com and entering the control number on your proxy card or by following the instructions provided by your broker, bank, or other nominee.

Your vote FOR the Dissolution Proposal is very important - please VOTE TODAY.

Additional Information

Information regarding the Dissolution Proposal, including the board of director’s reasons for recommending approval of the Dissolution Proposal, is set forth in the company’s proxy statement and supplements thereto, which have been filed with the Securities and Exchange Commission (“SEC”) and are available at the SEC’s website at www.sec.gov.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the federal securities laws including, but not limited to, statements about the reasons for approving, and the consequences of failing to approve, the Dissolution Proposal; the potential availability of amounts for distribution to stockholders; and the potential tax benefits to stockholders of approving the Dissolution Proposal. Forward-looking statements involve risks and uncertainties that may cause actual results or performance to differ materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks involved in dissolving, liquidating, and winding down Vincerx’s business and affairs; the timing or amount of distributions, if any, to Vincerx’s stockholders; stockholder approval of the Dissolution Proposal and the timeliness of such approval; the risk that Vincerx may need to seek protection of the bankruptcy court; and the other factors discussed in Vincerx’s reports, including its Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent reports filed with the SEC. All forward-looking statements are based on information available to Vincerx as of the date of this press release. Vincerx undertakes no duty or obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information:

info@vincerx.com

FAQ

What is the purpose of Vincerx Pharma's (VINC) Special Meeting adjournment to July 16, 2025?

The meeting was adjourned to allow more time to solicit votes needed to approve the Dissolution Proposal, which would liquidate and dissolve the company.

What happens if VINC stockholders don't approve the Dissolution Proposal?

Failure to approve will result in continued operating costs that could reduce or eliminate potential distributions to stockholders, and the company may need to seek bankruptcy protection.

What are the potential benefits for VINC shareholders if the Dissolution Proposal is approved?

Shareholders may receive cash distributions from remaining funds and U.S. stockholders could be eligible for capital loss tax benefits if distributions are less than their tax basis.

How can VINC stockholders vote on the Dissolution Proposal?

Stockholders can vote by phone through Advantage Proxy at 1-877-870-8565 or online at www.proxyvote.com using their control number.

When is the deadline for VINC stockholders to vote on the Dissolution Proposal?

Stockholders must vote before the reconvened meeting on July 16, 2025, at 10:00 a.m. Pacific time.