{"id":36734,"date":"2023-05-04T03:47:22","date_gmt":"2023-05-04T07:47:22","guid":{"rendered":"https:\/\/allianceadvisors.org\/nasdaq-listed-biotechnology-company\/"},"modified":"2025-07-19T17:16:51","modified_gmt":"2025-07-19T21:16:51","slug":"nasdaq-listed-biotechnology-company","status":"publish","type":"post","link":"https:\/\/allianceadvisors.org\/es\/nasdaq-listed-biotechnology-company\/","title":{"rendered":"Case Study: Reverse Split, Retail Outreach"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row remove_bottom_col_margin=&raquo;true&raquo;][vc_column]<style>.vcex-heading.vcex_68e474c385863{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e474c385863\"><span class=\"vcex-heading-inner wpex-inline-block\">Assignment and Challenges<\/span><\/h2>[\/vc_column][\/vc_row][vc_row css=&raquo;.vc_custom_1682408560766{background-color: #eaeaea !important;}&raquo;][vc_column][vc_column_text css=&raquo;.vc_custom_1683185806163{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;}&raquo;]The company was facing a vote to approve a reverse split which required an affirmative vote of majority of the outstanding shares. The company was facing a possible delisting because the stock price was in danger of falling below $1.00. With the meeting date passed and at the end of the first adjournment, the company had only 39% of the voting in favor.\n<p>The company was facing a difficult challenge with the responsiveness from shareholders. The declining stock price created an apathetic sentiment with a shareholder base largely held by retail shareholders, who are notoriously apathetic voters.[\/vc_column_text][\/vc_column][\/vc_row][vc_row equal_height=&raquo;yes&raquo;][vc_column]<\/p><div class=\"vcex-spacing wpex-w-100 wpex-clear\" style=\"height:25px;\"><\/div>[\/vc_column][\/vc_row][vc_row equal_height=&raquo;yes&raquo; remove_bottom_col_margin=&raquo;true&raquo; css=&raquo;.vc_custom_1682414370373{margin-bottom: -15px !important;}&raquo;][vc_column width=&raquo;1\/2&Prime;]<style>.vcex-heading.vcex_68e474c386ab4{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e474c386ab4\"><span class=\"vcex-heading-inner wpex-inline-block\">Solution<\/span><\/h2>[vc_column_text css=&raquo;.vc_custom_1752959763503{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;background-color: #eaeaea !important;}&raquo; el_class=&raquo;equal-height-content&raquo;]The company hired Alliance Advisors to take over the <a href=\"https:\/\/allianceadvisors.org\/glossary-index\/proxy-solicitation\/\">proxy solicitation<\/a> from the original <a class=\"glossaryLink cmtt_Proxy Solicitor\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Proxy Solicitor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; A specialized firm retained by a company or shareholder to assist in the solicitation of...&lt;\/div&gt;&lt;div id=&amp;quot;cmtt_related_articles&amp;quot; class=&amp;quot;cmtt_related_articles_wrapper&amp;quot;&gt;&lt;div class=&amp;quot;cmtt_related_title cmtt_related_articles_title&amp;quot;&gt;Related Articles: &lt;\/div&gt;&lt;ul class=&amp;quot;cmtt_related&amp;quot;&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.org\/es\/compensation-advisory-case-study\/&amp;quot;&gt;Case Study: Previously, Failed Say on Pay Proposal Compensation Advisory, Shareholder Meeting Advisory&lt;\/a&gt;&lt;\/li&gt;&lt;li class=&amp;quot;cmtt_related_item&amp;quot;&gt;&lt;a href=&amp;quot;https:\/\/allianceadvisors.org\/es\/apac-power-generation-company\/&amp;quot;&gt;Case Study: EGM &amp;#8211; Shareholder Engagement&lt;\/a&gt;&lt;\/li&gt;&lt;\/ul&gt;&lt;\/div&gt;&lt;div class=glossaryTooltipMoreLinkWrapper&gt;&lt;a class=glossaryTooltipMoreLink href=https:\/\/allianceadvisors.org\/es\/glossary-index\/proxy-solicitor\/ &gt;Read more...&lt;\/a&gt;&lt;\/div&gt;\"  data-link=\"https:\/\/allianceadvisors.org\/es\/glossary-index\/proxy-solicitor\/\"  href=\"https:\/\/allianceadvisors.org\/es\/glossary-index\/proxy-solicitor\/\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>proxy solicitor<\/a> at the onset of the 2nd adjournment period. Alliance Advisors analyzed the shareholder base and found a heavy concentration of retail shareholders, including non-US based shareholders.\n<p>Alliance Advisors designed and <a href=\"https:\/\/allianceadvisors.org\/es\/participacion-minorista\/\">Retail Outreach Program<\/a> that consisted of the following, but not limited to:<\/p>\n<ul>\n<li>Priority mailings to the largest shareholders urging them to contact us to vote their shares.<\/li>\n<li>Targeted calls to unvoted Non Objecting Beneficial (NOBO) shareholders urging them to vote over the phone with our operators.<\/li>\n<li>Email messages to shareholders providing them with instructions on how to vote by email.<\/li>\n<li>Text messages to facilitate vote by cell phone.<\/li>\n<li>&ldquo;Telegram&rdquo; styled messages for international shareholders encouraging them to vote electronically.<\/li>\n<li>Pre-recorded messages from the CEO explaining the benefits of voting FOR management&rsquo;s proposals.<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column][vc_column width=&raquo;1\/2&Prime;]<style>.vcex-heading.vcex_68e474c3873c9{color:#ffffff;background-color:#393939;}<\/style><h2 class=\"vcex-heading vcex-heading-plain vcex-module wpex-heading wpex-text-2xl wpex-px-30 wpex-py-30 wpex-text-center vcex_68e474c3873c9\"><span class=\"vcex-heading-inner wpex-inline-block\">Results<\/span><\/h2>[vc_column_text css=&raquo;.vc_custom_1683186359737{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;background-color: #eaeaea !important;}&raquo; el_class=&raquo;equal-height-content&raquo;]Alliance Advisors delivered a majority of the outstanding vote by the final adjournment period. By Alliance Advisors delivering the vote on time the company did not have to undertake a costly process of a completely new shareholder meeting.[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>NASDAQ Listed Biotechnology Company<\/p>\n","protected":false},"author":9,"featured_media":36183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[224],"tags":[302,300,301],"post_series":[],"ppma_author":[459],"class_list":["post-36734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies-es","tag-reverse-split-es","tag-proxy-solicitation-es","tag-retail-outreach-es","entry","has-media"],"authors":[{"term_id":459,"user_id":9,"is_guest":0,"slug":"nthomas","display_name":"Nick Thomas","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/b13c51d67934aa5957c1ce7fa0b768b9bfe3a377d9d110466cd3131b1c32362a?s=96&d=mm&r=g","author_category":"","first_name":"Nick","last_name":"Thomas","user_url":"https:\/\/www.grid24.co.uk\/","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/posts\/36734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/comments?post=36734"}],"version-history":[{"count":5,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/posts\/36734\/revisions"}],"predecessor-version":[{"id":59875,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/posts\/36734\/revisions\/59875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/media\/36183"}],"wp:attachment":[{"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/media?parent=36734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/categories?post=36734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/tags?post=36734"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/post_series?post=36734"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/allianceadvisors.org\/es\/wp-json\/wp\/v2\/ppma_author?post=36734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}