News out
LOS ANGELES , May 19, 2020 (GLOBE NEWSWIRE) -- Ritter Pharmaceuticals, Inc. (Nasdaq: RTTR) (“Ritter Pharmaceuticals”, “Ritter” or the “Company”), announced today that, based upon the final vote count certified by the inspector of election for the special meeting of stockholders held on May 18, 2020 , its stockholders approved all of the Qualigen, Inc. merger-related proposals, including: (i) the issuance of Ritter common stock and convertible preferred stock pursuant to the Agreement and Plan of Merger, dated as of January 15, 2020 , as amended, by and among Ritter, RPG28 Merger Sub, Inc. , and Qualigen, Inc. (“Qualigen”) and the change of control of Ritter resulting from the merger, (ii) a reverse stock split of the outstanding shares of common stock of the Company, at a ratio within a range of 1-for-25 to 1-for-35, as determined by the board of directors of the Company, (iii) changing the name of Ritter from “Ritter Pharmaceuticals, Inc.” to “Qualigen Therapeutics, Inc.” and (iv) the adoption of Ritter’s 2020 Equity Incentive Plan.
“We’d like to recognize our shareholders for their strong participation and overwhelming support of this transaction with Qualigen,” said Andrew J. Ritter . “We look forward to completing the merger with Qualigen , a transaction which we believe will create continued value for our shareholders.”
As previously announced, the boards of directors of both Ritter and Qualigen unanimously approved the merger, which is expected to be consummated in the next few days. In connection with the closing of the transaction, the Company will change its name to “Qualigen Therapeutics, Inc.” and the Company’s shares are expected to continue trading on The Nasdaq Capital Market under the symbol “QLGN”.
