Advaxis, a leader in developing the next generation of immunotherapies for cancer and infectious diseases, today announced the filing of a Form DEFR14A, proxy statement supplement, with the U.S. Securities and Exchange Commission. The action revises certain proposals in the proxy statement originally filed on April 30, 2013.
Advaxis has made the following changes:
• Proposal No. 2: the proposal to approve a reverse stock split, to now limit the high end of the range proposed to 1-for-125 (in the earlier proxy, we proposed a range of 1-for-70 to 1-for-200);
• Proposal No. 3: the proposal to decrease the total number of authorized shares of common stock, to now decrease the total number of authorized shares of common stock post-reverse stock split to 50,000,000 shares (in the earlier proxy, we proposed a total number of 300,000,000 shares of common stock post-reverse stock split); and
• Proposal No. 4: the proposal to approve an amendment to our 2011 Omnibus Incentive Plan, to now limit the amount of the requested increase to 75,000,000 shares of common stock (in the earlier proxy, we proposed an increase of 155,000,000 shares of common stock).
In an effort to give stockholders more time to consider the revised proposals, Advaxis' Board of Directors has resolved to postpone the meeting. This year's Annual Meeting of Stockholders will be held on a new date, June 14, 2013, at 10:00 a.m., Eastern Daylight Time, at the Princeton Marriott, 100 College Road East, Princeton, New Jersey 08540.
The proxy statement supplement is being mailed to stockholders of record as of the close of business on April 15, 2013.
For more information, visit advaxis.com
Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net