Asensus Surgical, Inc.
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 01/11/2021   Download
SEC Document
SEC Filing
On July 15, 2021, Asensus Surgical, Inc. (the “Company”) reported that its Board of Directors had approved an amendment and restatement of the Company’s Amended and Restated Bylaws (the “Bylaws”) to change the quorum for stockholder meetings to equal one-third (33.33%) of the shares issued and outstanding and entitled to vote on the matters at the meeting. The amendment to Bylaws will be applied retroactively to the record date for the Company’s 2021 Annual Meeting of Stockholders to be held on July 22, 2021, beginning at 1:00 p.m. Eastern Time.
The change to the quorum requirement for stockholder meetings was made to improve the Company’s ability to hold stockholder meetings when called. The Company has twice adjourned the 2021 Annual Meeting of Stockholders in order to try and achieve a quorum for the meeting, but has not been successful in securing the votes of a majority of the shares issued and outstanding as of the record date.