Corporate ActionJul 15, 2026, 06:11 AM
Gossamer Bio Boosts Authorized Shares to 4B; Approves Reverse Split
AI Summary
Gossamer Bio, Inc. stockholders approved a significant increase in authorized Common Stock from 700 million to 4 billion shares, effective July 14, 2026. This move supports the conversion of newly issued 7.50% Convertible Senior Secured First Lien Notes due 2030, the exercise of Purchase Warrants, and the Restated 2019 Incentive Award Plan. Additionally, stockholders approved a series of alternate amendments to effect a reverse stock split and a proportionate reduction in authorized shares.
Key Highlights
- Authorized Common Stock increased from 700,000,000 to 4,000,000,000 shares.
- Stockholders approved a reverse stock split of Common Stock.
- Restated 2019 Incentive Award Plan was approved.
- Approval for potential issuance of shares for New Convertible Notes and Purchase Warrants.
- Issuance of shares could exceed 20% of outstanding shares prior to Exchange Offer.
Price Impact
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