SNWV - SANUWAVE Health Reports Stockholder Approval of SEPA Merger at Special Meeting of Stockholders | Benzinga
At a special meeting of stockholders on February 21, 2024, SANUWAVE stockholders approved the business combination with SEP Acquisition Corp. by a vote of 798,379,869 "for" and 5,221,765 "against" with 71,525 abstaining
70.5% of all shares eligible to vote in this special election either voted or abstained
Of those who voted, 99.3% voted "for" and 0.7% voted "against" with 0% (rounded to the nearest 1/10th of one percent) abstaining
EDEN PRAIRIE, MN, Feb. 22, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SANUWAVE Health, Inc. (the "Company" or "SANUWAVE") (OTCQB:SNWV), a leading provider of next-generation FDA-approved wound care products, today announced the result of its special meeting (the "Special Meeting") to approve its business combination with SEP Acquisition Corp. The results, as reported in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on February 21, 2024 (Link), were as follows:
Proposal 1 — To consider and vote upon a proposal to approve the Agreement and Plan of Merger (as it may be further amended or supplemented from time to time, the "Merger Agreement") among the Company, SEP Acquisition Corp., a Delaware corporation ("SEPA"), and SEP Acquisition Holdings Inc., a Nevada corporation and a wholly-owned subsidiary of SEPA ("Merger Sub"), for the purposes set forth in the Merger Agreement (all of the transactions contemplated by the Merger Agreement, including the issuances of securities thereunder, are collectively referred to as the "Business Combination"), and the transactions contemplated thereby, including the Business Combination, pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving entity of the Business Combination and becoming a subsidiary of SEPA (the "Business Combination Proposal").
For: 798,379,869
Against; 5,221,765
Abstain: 71,525
Broker Non-Votes: 0
Proposal 2 — To adjourn the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if it is determined by the Company's board of directors that more time is necessary or appropriate to approve the Business Combination Proposal at the Special Meeting.
For: 797,802,452
Against; 5,792,907
Abstain: 77,800
Broker Non-Votes: 0
Both proposals were approved, each receiving the affirmative requisite vote of the holders of shares of the Company's common stock. Although Proposal 2 was approved, the adjournment of the Special Meeting to solicit additional proxies was not necessary because there were sufficient votes at the time of the Special Meeting to adopt Proposal 1.
Each proposal is described in detail in the Company's definitive proxy statement filed with the SEC on January 22, 2024.
"We are pleased to have achieved this important milestone," said SANUWAVE CEO Morgan Frank. "We're especially pleased to have done so with such ...