NTN - NTN Buzztime shares surge 62% on merger approval with Brooklyn ImmunoTherapeutics

NTN Buzztime (NTN) soars 62% after-hours after its stockholders approved the proposed merger between NTN and Brooklyn ImmunoTherapeutics.The merger is expected to close in the next two weeks. At the special meeting, following proposals were approved:Issuance of NTN common shares to the members of Brooklyn,Authorizing an amendment to effect a reverse stock split of NTN's common stock, with a range of one new share for every 2 to 10 shares,To increase the number of authorized shares to 100M shares,To change NTN's corporate name to Brooklyn ImmunoTherapeutics,Approving Brooklyn's 2020 Stock Incentive Plan, andTo approve on an advisory basis the compensation payable to the named executive officers of NTN in connection with the merger. However, two proposals did not pass: to grant voting rights to the holders of NTN's Series A convertible preferred stock on an as-converted to common stock basis, andTo sell the assets relating to NTN's historic business to eGames.com Holding LLC.Earlier

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NTN Buzztime shares surge 62% on merger approval with Brooklyn ImmunoTherapeutics