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| SOMX > SEC Filings for SOMX > Form 8-K on 11-Oct-2012 | All Recent SEC Filings |
11-Oct-2012
Material Modification to Rights of Security Holders, Amendments to
To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated by reference herein.
On October 5, 2012, the stockholders of Somaxon Pharmaceuticals, Inc. (the "Company") voted to approve an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's outstanding common stock at an exchange ratio of 1-for-8, and a decrease in the number of authorized shares of the Company's common stock to 25,000,000 shares, subject to the authority of the Company's Board of Directors' to abandon such amendment.
On October 10, 2012, the Company's Board of Directors authorized such amendment, and the Company filed a Certificate of Amendment to effect such amendment with the Secretary of State of the State of Delaware on October 11, 2012 (the "Certificate of Amendment").
The Certificate of Amendment provides that it will become effective as of 5:00
p.m., Pacific Time, on October 11, 2012, at which time every eight shares of the
Company's issued and outstanding common stock will be automatically combined
into one issued and outstanding share of the Company's common stock, without any
change in the par value per share. No fractional shares are to be issued.
Stockholders of record who otherwise would be entitled to receive fractional
shares are entitled to an amount in cash (without interest or deduction) equal
to the fraction of one share to which such stockholder would otherwise be
entitled multiplied by the closing sale price per share as reported by the
NASDAQ Capital Market on October 11, 2012 (the last trading day preceding the
effective date of the reverse stock split). The foregoing description of the
Certificate of Amendment does not purport to be complete and is qualified in its
entirety by reference to the full text of the Certificate of Amendment, which is
attached as Exhibit 3.1 hereto and incorporated herein by reference.
Trading of the Company's common stock will continue on the NASDAQ Capital Market on a reverse stock split-adjusted basis. The new CUSIP number for the Company's common stock following the reverse stock split is 834453 201.
A copy of the press release announcing the effectiveness of the reverse stock split and the decrease in the number of authorized shares of the Company's common stock, is attached as Exhibit 99.1 hereto and incorporated herein by reference.
On October 5, 2012, the Company held a Special Meeting of Stockholders (the "Special Meeting"). The following is a brief description of each matter voted upon at the Special Meeting and the number of votes cast for or against and the number of abstentions with respect to each matter, as applicable.
1. To approve an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's outstanding common stock at an exchange ratio of 1-for-8, and a decrease in the number of authorized shares of the Company's common stock to 25,000,000 shares, subject to the Board of Directors' authority to abandon such amendment ("Proposal No. 1").
In accordance with the above results, Proposal No. 1 was approved.
2. To approve the adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Special Meeting to approve Proposal No. 1 ("Proposal No. 2").
In accordance with the above results, Proposal No. 2 was approved.
(d) Exhibits.
Exhibit
Number
Description of Exhibit
3.1 Certificate of Amendment to the Amended and Restated Certificate of
Incorporation of Somaxon Pharmaceuticals, Inc., effective 5:00 p.m.
Pacific Time, October 11, 2012
99.1 Press release, dated October 11, 2012
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