Theriva Biologics (NYSE: TOVX) to reschedule vote on 16.18M warrant shares
Rhea-AI Filing Summary
Theriva Biologics, Inc. was unable to convene its Special Meeting of Stockholders on February 11, 2026 because not enough shares were present to form a quorum. The meeting was intended to obtain stockholder approval for issuing up to 16,184,560 shares of common stock upon exercise of certain New Warrants under an October 16, 2025 inducement agreement.
The company plans to call a new stockholder meeting to seek this approval and will announce the date and time and send new proxy materials. Under the inducement agreement, unless investors waive the requirement, Theriva must call another meeting every 60 days until stockholder approval is obtained or the New Warrants are no longer outstanding.
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Insights
Theriva failed to reach quorum for a key warrant-approval vote and now faces repeated meeting obligations.
The company could not convene its Special Meeting because too few shares were represented, delaying a vote on approving the issuance of up to 16,184,560 shares upon exercise of New Warrants tied to an October 16, 2025 inducement agreement. This keeps the warrant-related capital structure change unresolved.
Theriva states it will call a new meeting and send fresh proxy materials to seek the same stockholder approvals. The inducement agreement requires a new stockholder meeting every 60 days, unless waived by investors, until approval is obtained or the New Warrants cease to be outstanding, so the timing and outcome depend on future stockholder participation.
FAQ
What did Theriva Biologics (TOVX) disclose about its February 11, 2026 Special Meeting?
Theriva Biologics disclosed that its February 11, 2026 Special Meeting of Stockholders could not be convened because not enough shares were present to form a quorum. As a result, no votes were taken and the company must reschedule the meeting.
What proposals were to be considered at Theriva Biologics' Special Meeting?
The Special Meeting was called to seek approval of a warrant exercise proposal and an adjournment proposal. These proposals were described in the definitive proxy statement Theriva Biologics filed with the Securities and Exchange Commission on January 5, 2026.
How many shares are tied to Theriva Biologics' New Warrants under the inducement agreement?
The inducement agreement contemplates issuing up to 16,184,560 shares of Theriva Biologics common stock upon exercise of certain New Warrants. Stockholder approval is being sought specifically for this potential issuance under the October 16, 2025 inducement agreement.
What ongoing obligations does Theriva Biologics have if stockholder approval is not obtained?
If stockholder approval is not obtained and the requirement is not waived by investors, Theriva Biologics must call an additional stockholder meeting every 60 days. This obligation continues until approval is obtained or the New Warrants are no longer outstanding.
How will Theriva Biologics proceed after failing to reach quorum at the Special Meeting?
Theriva Biologics plans to call a new stockholder meeting to again seek approval of the warrant exercise and adjournment proposals. The company will announce the new date and time and will file and mail updated proxy materials to its stockholders.