RegeneRx Biopharmaceuticals, Inc. (OTC: RGRX), a clinical-stage drug development company focused on tissue protection, repair, and regeneration, announced that, pursuant to the company’s consent solicitation dated July 11, 2023, it has received consents as of August 3, 2023 from the holders of 51.07% of the Company’s Common Stock in favor of the proposed reverse stock split, which is a prerequisite to allowing the Company to suspend its public reporting obligations under the Securities Exchange Act of 1934 and become a non-reporting, privately held company.
J.J. Finkelstein, the Company’s CEO, commented, “We thank our stockholders for voting in favor of the proposed reverse stock split. We expect to effect a 1-for-100 reverse split in our outstanding shares of Common Stock on or about August 14, 2023. Promptly thereafter, we expect to file the requisite Forms 15 to suspend our continued obligations to file reports with the SEC pursuant to the Securities Exchange Act of 1934, as amended.”
