Delcath Systems Inc (DCTH)

[ddaurelio]

We're screwed. Shorts win again.

NEW YORK, April 09, 2018 (GLOBE NEWSWIRE) -- Delcath Systems, Inc.(DCTH) , an interventional oncology company focused on the treatment of primary and metastatic liver cancers, announces that shareholders have approved the provisions of the Company’s Consent Solicitation filed with the Securities Exchange Commission (SEC) on February, 26, 2018. By a vote of 54.3%, shareholders as of the record date of February 9, 2018 approved the Company’s proposals to amend its certificate of incorporation to increase its authorized shares of common stock from 500,000,000 to 1,000,000,000 (the Authorized Share Increase), and, by a vote of 52.8%, to effect a reverse stock split of the Company’s common stock at a range of 1-for-100 to 1-for-500 (the Reverse Stock Split Authorization).


As a result, the Board of Directors is authorized to determine, in its sole discretion, whether to implement the reverse stock split at a ratio within the approved range, as well as its specific timing, but not later than April 6, 2019.