Form 8-K - Current report
22 Maio 2024 - 6:16PM
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2024-05-21
2024-05-21
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of report (date of earliest event reported): May 21,
2024
TONIX PHARMACEUTICALS HOLDING CORP.
(Exact name of registrant as specified in its charter)
Nevada |
001-36019 |
26-1434750 |
(State or Other Jurisdiction;
of Incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
26
Main Street, Chatham, New
Jersey 07928
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code:
(862) 904-8182
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to
Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock |
TNXP |
The NASDAQ Capital Market |
Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.05. | Costs Associated with Exit or Disposal Activities. |
Tonix
Pharmaceuticals Holding Corp. (the “Company”) plans to reduce its workforce by 23 full-time employees and decommission its
Advanced Development Center (“ADC”) in Massachusetts by June 7, 2024, to align the Company’s capital and human resources
with its previously announced strategic prioritization of its Tonmya™ (TNX-102 SL cyclobenzaprine
HCl sublingual tablet) product candidate for the management of fibromyalgia.
At this
time the Company has made a good faith determination that it does not expect to incur a material charge in connection with the reduction
in force or decommissioning of the ADC.
Item 2.06. | Material Impairments. |
The information in Item 2.05 above is incorporated herein by reference. At this time the Company is unable to make a good faith determination
of the amount or range of the non-cash impairment charge or the impairment charge that will result in future cash expenditures related
to the decommissioning of the ADC.
Item 5.07. |
Submission of Matters to a Vote of Security Holders. |
On May 22, 2024, the Company held its
annual meeting of shareholders, at which the Company’s shareholders approved four proposals. Shareholders representing 43,505,606
shares, or 61.6%, of the common shares outstanding as of the March 25, 2024 record date, were represented at the meeting by proxy. The
proposals are described in detail in the Company’s proxy statement filed with the Securities and Exchange Commission on April 15,
2024, pursuant to Section 14(a) of the Securities Exchange Act of 1934, as amended.
Proposal 1
The Company’s shareholders elected
eight individuals to the Board of Directors as set forth below:
Name |
|
Votes For |
|
Votes Withheld |
|
Broker Non-Votes |
Seth Lederman |
|
10,807,281 |
|
11,313,030 |
|
21,385,295 |
Richard Bagger |
|
11,696,851 |
|
10,423,460 |
|
21,385,295 |
Margaret Smith Bell |
|
11,855,724 |
|
10,264,587 |
|
21,385,295 |
David Grange |
|
11,672,665 |
|
10,447,646 |
|
21,385,295 |
Adeoye Olukotun |
|
9,999,588 |
|
12,120,693 |
|
21,385,295 |
Newcomb Stillwell |
|
11,741,125 |
|
10,379,186 |
|
21,385,295 |
Carolyn Taylor |
|
11,902,169 |
|
10,218,142 |
|
21,385,295 |
James Treco |
|
11,741,772 |
|
10,378,539 |
|
21,385,295 |
Proposal 2
The Company’s shareholders ratified
the appointment of EisnerAmper LLP as the Company’s independent registered public accounting firm for the fiscal year ending December
31, 2024, as set forth below:
Votes For |
|
|
Votes Against |
|
|
Abstentions |
|
|
Broker Non-Votes |
|
36,825,653 |
|
|
|
2,507,506 |
|
|
|
4,172,447 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proposal 3
The Company’s shareholders approved a proposal to authorize the Company’s
Board of Directors (the “Board”), in its discretion at any time within one year May 22, 2024, to effect a reverse stock split
of then-outstanding shares of the Company’s common stock, at a ratio of not less than one-for-two (1:2) and not greater than one-for-fifty
(1:50), with the exact ratio to be determined by the Board and included in a public announcement, as set forth below:
Votes For |
|
|
Votes Against |
|
|
Abstentions |
|
|
Broker Non-Votes |
|
31,099,110 |
|
|
|
12,114,167 |
|
|
|
292,329 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proposal 4
The Company’s shareholders approved a proposal, for the purpose of complying
with the applicable provisions of The Nasdaq Stock Market LLC Listing Rule 5635(d), the repricing of up to 6,950,000 Common Warrants issued
August 2023, 8,900,000 Series A Warrants issued October 2023, 8,900,000 Series B Warrants issued October 2023, 34,824,328 Series C Warrants
issued December 2023, and 34,824,328 Series D Warrants issued December 2023, as set forth below:
Votes For |
|
|
Votes Against |
|
|
Abstentions |
|
|
Broker Non-Votes |
|
10,844,027 |
|
|
|
7,149,575 |
|
|
|
4,126,709 |
|
|
|
21,385,295 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIGNATURE
Pursuant to the requirement of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
TONIX PHARMACEUTICALS HOLDING CORP. |
|
|
Date: May 22, 2024 |
By: |
/s/ Bradley Saenger |
|
|
|
Bradley Saenger |
|
|
Chief Financial Officer |
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