Corporate GovernanceJul 28, 2026, 04:57 PM
Tempest Special Meeting Adjourned; Governance Proposal Lacks Votes
AI Summary
Tempest Therapeutics, Inc. adjourned its special meeting of stockholders on July 27, 2026, due to insufficient votes to approve a Certificate of Amendment. The proposed amendment aimed to replace supermajority voting requirements and permit stockholder action by written consent. Although a quorum was present with 67.7% of shares, the proposal required a 75% affirmative vote. The meeting will reconvene on August 17, 2026, to provide stockholders additional time to vote on the unchanged proposal.
Key Highlights
- Tempest Therapeutics convened a special meeting of stockholders on July 27, 2026.
- The meeting's purpose was to approve an amendment to replace supermajority voting and permit written consent.
- A quorum was present with 10,031,446 shares (67.7%) of common stock outstanding.
- Insufficient votes were cast to approve the Proposal, which requires a 75% affirmative vote.
- The Special Meeting was adjourned to August 17, 2026, to allow more time for stockholder voting.
- The record date for voting remains May 28, 2026, and no changes have been made to the Proposal.
Price Impact
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