Amedica Announces Adjournment of Special Meeting of Stockholders
September 07 2017 - 09:00AM
Marketwired
Amedica Announces Adjournment of Special Meeting of
Stockholders
SALT LAKE CITY, UT-(Marketwired - Sep 7, 2017) - Amedica
Corporation (NASDAQ: AMDA), an innovative medical device company
that develops and commercializes silicon nitride, announced that
the special meeting of stockholders scheduled for today has been
adjourned.
The adjournment is to allow for the solicitation of additional
votes in favor of the proposal contained in the definitive proxy
statement that Amedica filed with the Securities and Exchange
Commission on July 28, 2017 regarding a reverse split of the
company's common stock. Approval of a majority of all outstanding
shares of Amedica common stock is necessary for this proposal to be
approved. Over 13 million shares - representing nearly 36% of the
outstanding common stock - remained unvoted as of the time of
today's meeting.
The special meeting will reconvene at 8:00 a.m. local time on
September 21, 2017 at the company's offices located at 1885 West
2100 South, Salt Lake City, UT 84119. The record date for
stockholders entitled to vote at the special meeting remains July
19, 2017.
During the period of the adjournment, Amedica will continue to
solicit proxies from its stockholders. Stockholders who have not
already done so are encouraged to vote - because passage of the
proposal requires a majority of outstanding shares to vote in
favor, unvoted shares have the same effect as shares voted against.
Stockholders who have already voted do not need to recast their
votes unless they wish to change their votes. Proxies previously
submitted for the meeting will be voted as previously instructed at
the reconvened meeting unless properly revoked.
Both leading independent proxy advisory firms - Institutional
Shareholder Services Inc. and Glass Lewis & Co. LLC - have
recommended that stockholders vote in favor of the reverse split
proposal.
Today's adjournment provides stockholders who have not yet voted
an additional opportunity to do so. All stockholders are reminded
that every vote will count. Stockholders who need assistance in
voting their shares or who have questions are encouraged to contact
Amedica's proxy solicitor, Innisfree M&A Incorporated,
stockholders call toll-free at (888) 750-5834 and banks and brokers
may call collect at (212) 750-5833.
About Amedica Corporation Amedica is the only manufacturer of
medical grade silicon nitride - an innovative biomaterial
technology ideal for use in spinal fusion and across a variety of
medical applications. The Company's products are manufactured in
its ISO 13485 certified manufacturing facility located in Salt Lake
City, Utah. Amedica's FDA-cleared and CE-marked spine products are
currently marketed in the U.S. and select markets in Europe and
South America through its distributor network.
For more information on Amedica or its silicon nitride material
platform, please visit www.amedica.com.
Forward-Looking Statements This press release contains
statements that constitute forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform
Act of 1995. Such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated within this press release. A description of those
risks can be found in Amedica's Risk Factors disclosure in its
Annual Report on Form 10-K, filed with the Securities and Exchange
Commission (SEC) on March 23, 2016, and in Amedica's other filings
with the SEC. Amedica disclaims any obligation to update any
forward-looking statements.
Contacts: Amedica IR 801-839-3502 IR@amedica.com
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