Form 8-K - Current report
31 10월 2023 - 5:05AM
Edgar (US Regulatory)
0001811623
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2023-10-30
2023-10-30
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 30, 2023
PaxMedica, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
001-41475 |
85-0870387 |
(State or other jurisdiction
of incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
303 South Broadway, Suite 125
Tarrytown, NY |
10591 |
(Address of principal executive offices) |
(Zip Code) |
(914) 987-2876
(Registrant’s telephone number, including
area code)
n/a
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.
below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange
on which registered |
Common Stock, par value $0.0001 per share |
|
PXMD |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
| Item 3.03 | Material Modification to Rights of Security Holders. |
(a)
On October 30, 2023, PaxMedica Inc. (the “Company”)
filed a Certificate of Amendment to the Certificate of Incorporation of the Company (the “Amendment”) with the Secretary
of State of the State of Delaware to effect a 1-for-17 reverse stock split of its outstanding common stock. The Amendment became
effective at 8:03 a.m. Eastern Time on October 30, 2023 (the “Effective Time”). The Amendment was authorized by the
stockholders of the Company at the Company’s special meeting of stockholders on September 26, 2023.
The Amendment provides that, at the Effective Time, every
17 shares of the Company’s issued and outstanding common stock were automatically combined into one issued and outstanding share
of common stock, without any change in par value per share. The reverse split affected all shares of the Company’s common stock
outstanding immediately prior to the Effective Time. As a result of the reserve stock split, proportionate adjustments will be made to
the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all stock options and warrants issued
by the Company and outstanding immediately prior to the Effective Time, which will result in a proportionate decrease in the number of
shares of the Company’s common stock reserved for issuance upon exercise or vesting of such stock options and warrants, and, in
the case of stock options and warrants, a proportionate increase in the exercise price of all such stock options and warrants. In addition,
the number of shares reserved for issuance under the Company’s equity compensation plan immediately prior to the Effective Time
has been reduced proportionately.
No fractional shares will be issued as a result of the reverse
stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will receive a number of shares rounded
up to the next whole share in lieu thereof. The reverse stock split affects all stockholders proportionately and will not affect any stockholder’s
percentage ownership of the Company’s common stock (other than the nominal effect of the treatment of fractional shares).
The Company’s common stock will begin trading on The
Nasdaq Capital Market on a split-adjusted basis when the market opens on October 31, 2023. The new CUSIP number for the Company’s
common stock following the reverse stock split is 70424C 104.
The foregoing description is qualified in its entirety by
the Amendment, which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial
Statements and Exhibits. |
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
PaxMedica, Inc. |
|
|
Dated: October
30, 2023 |
By: |
/s/ Howard J. Weisman |
|
Name: |
Howard J. Weisman |
|
Title: |
Chief Executive Officer |
Exhibit 3.1
CERTIFICATE OF AMENDMENT
TO THE
CERTIFICATE OF INCORPORATION
OF
PAXMEDICA, INC.
PaxMedica, Inc. (the
“Corporation”), a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the
“DGCL”), does hereby certify:
FIRST: Effective
upon the filing of this amendment (the “Effective Time”) to the Corporation’s Certificate of Incorporation, as amended
from time to time (the “Certificate of Incorporation”), each seventeen (17) shares of common stock, par value $0.0001
per share (“Common Stock”), issued and outstanding immediately prior to the Effective Time shall be combined into one (1) validly
issued, fully paid and non-assessable share of Common Stock without any further action by the Corporation or the holder thereof (the “Reverse
Stock Split”); provided that no fractional shares shall be issued to any holder and that instead of issuing such fractional shares,
the Corporation shall round shares up to the nearest whole number.
SECOND: The
Board of Directors of the Corporation duly adopted resolutions approving the following amendment to the Certificate of Incorporation,
declaring said amendment to be advisable and providing for the consideration of such amendment at a special meeting of stockholders of
the Corporation.
THIRD: On
September 26, 2023, the special meeting of stockholders of the Corporation was duly called and held, upon notice in accordance with
Section 222 of the DGCL, at which meeting the necessary number of shares required by statute were voted in favor of the amendment.
FOURTH: Said
amendment was duly adopted in accordance with the provisions of Section 242 of the DGCL.
IN WITNESS WHEREOF, this
Certificate of Amendment of the Certificate of Incorporation has been executed as of this 30th day of October, 2023.
PAXMEDICA, INC. |
|
|
|
By: |
/s/
Stephen Douglas Sheldon |
|
|
Name: Stephen Douglas Sheldon |
|
|
Title: Chief Financial Officer |
|
v3.23.3
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Oct. 30, 2023 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
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|
Entity File Number |
001-41475
|
Entity Registrant Name |
PaxMedica, Inc.
|
Entity Central Index Key |
0001811623
|
Entity Tax Identification Number |
85-0870387
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
303 South Broadway
|
Entity Address, Address Line Two |
Suite 125
|
Entity Address, City or Town |
Tarrytown
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10591
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City Area Code |
914
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Local Phone Number |
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Title of 12(b) Security |
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Trading Symbol |
PXMD
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Security Exchange Name |
NASDAQ
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