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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 23, 2024

 

PaxMedica, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware 001-41475 85-0870387
(State or other jurisdiction
of incorporation)
(Commission File Number) (IRS Employer
Identification No.)

 

303 South Broadway, Suite 125
Tarrytown, NY
10591
(Address of principal executive offices) (Zip Code)

 

(914) 987-2876

(Registrant’s telephone number, including area code)

 

n/a

(Former name or former address, if changed since last report)

 

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 Instructions 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 Exchange Act:

 

Title of each class   Trading
Symbol(s)
  Name of each exchange
on which registered
Common Stock, par value $0.0001 per share   PXMD   The Nasdaq Stock Market LLC

 

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 x

 

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 5.07Submission of Matters to a Vote of Security Holders

 

The Annual Meeting of Stockholders of PaxMedica, Inc. (the “Company”) was held on May 23, 2024 (the “Annual Meeting”). At the Annual Meeting, there were present, in person virtually or by proxy, holders of 3,483,383 shares of common stock, or approximately 46.6% of the total outstanding shares eligible to be voted. The final voting results with respect to each proposal presented at the Annual Meeting is set forth below:

 

Proposal One - Election of Directors

 

The Company’s stockholders approved the election of one Class II director to the Company’s Board of Directors for a three-year term expiring at the 2027 annual meeting of stockholders or until such director’s successor is duly elected and qualified or until such director’s earlier death, resignation, disqualification or removal, by the following vote:

 

Nominee  Votes For   Votes Against   Abstentions    Broker Non-Votes 
Karen LaRochelle  979,676   139,465   360,923   2,003,319 

 

Proposal Two - Reverse Stock Split

 

The Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation, as amended from time to time, to effect, at the discretion of the board of directors, a reverse stock split of the Company’s common stock, par value $0.0001 per share, at a ratio in the range of 1-for-2 to 1-for-25, with such ratio to be determined at the discretion of the board of directors at any time prior to May 22, 2025, by the following vote:

 

Votes For   Votes Against   Abstentions   Broker Non-Votes 
2,146,872   1,329,652   6,859   - 

 

Proposal Three – Amendment to the Company’s Certificate of Incorporation

 

The Company’s stockholders did not approve an amendment to the Company’s Certificate of Incorporation to provide for the exculpation of officers as permitted by the Delaware General Corporation Law by the following vote:

 

Votes For   Votes Against   Abstentions   Broker Non-Votes 
1,298,571   145,805   35,688   2,003,319 

 

Approximately 17.4% of the outstanding shares of the Company’s common stock voted in favor of Proposal Three, the approval of which required the affirmative vote of a majority of the outstanding shares of the Company’s common stock.

 

Proposal Four – Ratification of Appointment of Independent Registered Accounting Firm

 

The Company’s stockholders ratified the appointment of Marcum LLP as the independent registered public accounting firm of PaxMedica, Inc. for the fiscal year ending December 31, 2024 by the following vote:

 

Votes For   Votes Against   Abstentions   Broker Non-Votes 
2,992,467   473,208   17,708   - 

 

Proposal Five – Adjournment Proposal

 

The Company had solicited proxies in favor of the Adjournment Proposal, which would have given the Company the authority to adjourn the Special Meeting to solicit additional proxies.

 

Votes For   Votes Against   Abstentions   Broker Non-Votes 
2,337,209   1,079,372   66,802   - 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  PaxMedica, Inc.
     
  By: /s/ Howard J. Weisman
  Names: Howard J. Weisman
  Title: Chief Executive Officer

 

Date: May 28, 2024