OpGen Inc (OPGN)

[chillswills37]

Silver lining in timing of meeting? The special shareholders' meeting has been set by the Board for December 8, 2021, a full 50 days after the record date of October 19, 2021.

OpGen is a Delaware corporation. By Delaware bylaws, the record date must fall within 10 to 60 days before any shareholder meeting. The special (read: "we really need this you b's") meeting could have been set for Oct 29th at the earliest or Dec 19th at the latest.

If it's so pressing to get this done, why are CEO Schacht and Chairman Rhodes dawdling? A plausible explanation is they need more "wait and see" time because something is cooking, something that could happily and profitably relieve them of all this rigmarole and the authorizing of new shares.


Delaware
§ 222. Notice of meetings and adjourned meetings.
"(b)Unless otherwise provided in this chapter, the notice of any meeting shall be given not less than 10 nor more than 60 days before the date of the meeting to each stockholder entitled to vote at such meeting as of the record date for determining the stockholders entitled to notice of the meeting."