Acusphere Inc (ACUS)

[hang ten]

Yes... but the BoD has the authority to go to 250m auth.


8K:

On June 5, 2008, a majority of the stockholders of Acusphere, Inc. (the “Company”) approved a proposal to grant the Company’s board of directors authority to amend the Company’s certificate of incorporation to increase the authorized common stock from 98.5 million to up to 250 million shares. The Company’s board of directors has decided not to amend the Company’s certificate of incorporation at this time. The approved proposal provides the board of directors with the authority, in its sole discretion and without further action by stockholders, to increase the authorized shares of common stock as so described at any time prior to the next Annual Meeting of Stockholders.

The Company previously announced that, at a special meeting of its stockholders held on March 25, 2008, a majority of such holders approved a proposal to grant the Company’s board of directors authority to effect a reverse stock split of the Company’s outstanding shares of Common Stock at a ratio within a range of between 1:10 and 1:20. The Company’s board of directors has decided not to effect a reverse stock split at this time but may do so any time prior to March 25, 2009.

As previously disclosed in the Company’s proxy statement filed with the Securities and Exchange Commission on April 28, 2008, if the Company completes the reverse stock split prior amending the certificate of incorporation to increase the number of authorized shares of common stock, the Company will not implement such amendment to increase the number of shares of common stock approved at the Annual Meeting of Stockholders, despite having stockholder approval to do so. However, if the Company amends its certificate of incorporation to increase the authorized shares of common stock and subsequently implements the reverse stock split, the Company’s authorized shares of common stock will be reduced in connection with the reverse stock split to 98.5 million shares pursuant to the terms of the reverse stock split approved on March 25, 2008.