Delcath Systems Inc (DCTH)

[ddaurelio]

If the shareholders approve the R/S, the BOD will set the ratio based on a number of different factors all outlined in the proxy statement filed with the SEC. The text below is from that filing:

"Should we receive the required stockholder approval for the Proposal, the Board of Directors will have the sole authority to elect, without the need for any further action on the part of our stockholders:

(1) whether or not to effect a reverse stock split, and
(2) if so, the number of whole shares, from 50 to 500, in the discretion of the Board of Directors, which will be combined into one share of our common stock.

Notwithstanding approval of the reverse stock split by the stockholders, the Board of Directors may, in its sole discretion, abandon the proposed amendment and determine prior to the effectiveness of any filing with the Secretary of State of the State of Delaware not to effect the reverse stock split on or prior to [?], as permitted under Section 242(c) of the Delaware General Corporation Law.

If the Board of Directors does not implement a reverse stock split on or prior to [?] stockholder approval again would be required prior to implementing any reverse stock split"