SARASOTA, Fla., Sept. 29,
2023 /PRNewswire/ -- INVO Bioscience, Inc. (Nasdaq:
INVO) ("INVO" or the "Company") today announced that its special
meeting of shareholders on September 29,
2023 (the "Special Meeting") was convened and then
adjourned, without conducting any business, in order to provide
shareholders additional time within which to vote on the proposals
as described in the Company's definitive proxy statement filed with
the Securities and Exchange Commission on September 1, 2023 (the "Proxy Statement").
The adjourned Special Meeting will reconvene on October 13, 2023 at 12:00
p.m. Eastern Time at
www.virtualshareholdermeeting.com/INVO2023SM. The record date of
August 21, 2023 for the adjourned
Special Meeting remains the same. Shareholders of record may attend
the virtual webcast meeting by logging in through the same
method.
During this adjournment, the Company will continue to solicit
votes from its shareholders in favor of (i) Proposal 1 to approve
an increase to the number of authorized shares of common stock of
the Company from 6,250,000 shares to 50,000,000 shares, and (ii)
Proposal 2 to approve, for the purposes of Nasdaq Marketplace Rule
5635(d), the reduction of the exercise price for the March 2023 private placement warrants from
$12.60 per share to $2.85 per share. The Company is required to
receive the affirmative vote of the holders of a majority of the
outstanding shares for Proposal 1 to pass. At the time of the
Special Meeting's adjournment, Proposal 1 had received the
affirmative vote of holders of more than 83% of the shares casting
votes with approximately 45% of the outstanding shares having cast
votes in favor of Proposal 1. The Company is required to receive
the affirmative vote of the holders of a majority in voting power
of the votes cast affirmatively or negatively (excluding
abstentions) at the Special Meeting by the holders entitled to vote
thereon for Proposal 2 to pass. At the time of the Special
Meeting's adjournment, Proposal 2 had received the affirmative vote
of holders of more than 42% of the shares casting votes.
Shareholders who have already voted their shares on the
proposals contained in the Proxy Statement do not need to vote
again. Proxies previously submitted will be voted at the adjourned
Special Meeting, and shareholders who have previously submitted a
proxy or otherwise voted need not take any action.
INVO encourages all shareholders, as of the record date on
August 21, 2023, who have not yet
voted to do so promptly.
Shareholders may use the Proxy Card that they were originally
provided with or vote in the manner as set forth in the Proxy
Statement.
Additional Information
The Company filed the Proxy Statement with the U.S. Securities
and Exchange Commission ("SEC") on September
1, 2023 in connection with our solicitation of proxies for
the Special Meeting. INVO BIOSCIENCE, INC. SHAREHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT (AND ANY AMENDMENTS
AND SUPPLEMENTS THERETO) AND ACCOMPANYING PROXY CARD AS THEY
CONTAIN IMPORTANT INFORMATION. Shareholders may obtain the Proxy
Statement, any amendments or supplements to the Proxy Statement and
other documents as and when filed by us with the SEC without charge
from the SEC's website at www.sec.gov. Shareholders can also
obtain, without charge, a copy of the Proxy Statement and other
relevant filed documents from our website
at https://www.invobioscience.com/investors/.
About INVO Bioscience
We are a healthcare services fertility company dedicated to
expanding the assisted reproductive technology ("ART") marketplace
by making fertility care accessible and inclusive to people around
the world. Our commercialization strategy is focused on the opening
of dedicated "INVO Centers" offering the INVOcell® and IVC
procedure (with three centers in North
America now operational), the acquisition of US-based,
profitable in vitro fertilization ("IVF") clinics and the sale and
distribution of our technology solution into existing fertility
clinics. Our proprietary technology, INVOcell®, is a revolutionary
medical device that allows fertilization and early embryo
development to take place in vivo within the woman's body. This
treatment solution is the world's first intravaginal culture
technique for the incubation of oocytes and sperm during
fertilization and early embryo development. This technique,
designated as "IVC", provides patients a more natural, intimate,
and more affordable experience in comparison to other ART
treatments. We believe the IVC procedure can deliver comparable
results at a fraction of the cost of traditional IVF and is a
significantly more effective treatment than intrauterine
insemination ("IUI"). For more information, please
visit www.invobio.com.
Safe Harbor Statement
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
The Company invokes the protections of the Private Securities
Litigation Reform Act of 1995. All statements regarding our
expected future financial position, results of operations, cash
flows, financing plans, business strategies, products and services,
competitive positions, growth opportunities, plans and objectives
of management for future operations, as well as statements that
include words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will,"
and other similar expressions are forward-looking statements. All
forward-looking statements involve risks, uncertainties, and
contingencies, many of which are beyond our control, which may
cause actual results, performance, or achievements to differ
materially from anticipated results, performance, or achievements.
Factors that may cause actual results to differ materially from
those in the forward-looking statements include those set forth in
our filings at www.sec.gov. We are under no obligation
to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE INVO Bioscience, Inc.