Vyant Bio Announces Stockholder Approval of Plan of Dissolution
02 November 2023 - 2:45AM
Vyant Bio, Inc. (“Vyant Bio” or “Company”) (OTC: VYNT) is
announcing the results of its special meeting of stockholders on
November 1, 2023 (the “Special Meeting”).
At the Special Meeting, Vyant Bio’s
stockholders, upon the unanimous recommendation of Vyant Bio’s
board of directors, voted in favor of the proposal to approve the
voluntary liquidation and dissolution of the Company, pursuant to a
Plan of Liquidation and Dissolution (the “Dissolution Proposal).
The proposal received the affirmative vote of holders of 94.0% of
the shares casting votes and 53.1% of the Company’s total
outstanding common shares. Vyant Bio’s Board will determine a date
for filing a Certificate of Liquidation and Dissolution with the
State of Delaware, after which the holders of shares of the
Company’s common stock will cease to have any rights in respect of
that stock, except the right to receive distributions, if any,
pursuant to and in accordance with the Plan of Dissolution.
For more information, please visit Vyant Bio
at:
Internet: www.vyantbio.com
Additional Information and Where to Find It
In connection with the transaction, Vyant Bio
filed relevant materials with the Securities and Exchange
Commission (the “SEC”), including a proxy statement. INVESTORS AND
SECURITY HOLDERS OF VYANT BIO ARE URGED TO READ THESE MATERIALS
CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE COMPANY’S DISSOLUTION, AND RELATED MATTERS.
The proxy statement and any other documents filed by Vyant Bio with
the SEC, may be obtained free of charge at the SEC website at
www.sec.gov.
Forward Looking Statements:
Any statements in this press release about
future expectations, plans and prospects for the Company, including
but not limited to statements about the ability of creditors,
shareholders and other stakeholders to realize any value or
recovery as part of a transaction or a liquidation or wind down
process, the ability of the Company to continue as a going concern,
the adequacy or sufficiency of the Company’s existing cash
resources, and other statements containing the words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “potential,” “likely,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
Company’s ability to continue to pay its obligations in the
ordinary course of business as they come due; the ability to
further reduce expenses, the adequacy of its capital resources in
light of changing circumstances, the actions of creditors of the
Company, the buyer’s ability to satisfy the milestones for future
payments and such other important factors as are set forth in the
Company’s annual report on Form 10-K for the year ended December
31, 2022 and quarterly reports and other filings on file thereafter
with the U.S. Securities and Exchange Commission and the Pink Open
Market operated by OTC Markets Group Inc. In addition, the
forward-looking statements included in this press release represent
the Company’s views as of the date of this press release. The
Company anticipates that subsequent events and developments will
cause its views to change. However, while the Company may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the
date of this press release.
Investor Contact:
Vyant Bio, Inc.Andrew LaFrence, President, Chief Executive
Officer and Chief Financial OfficerEmail:
Andrew.LaFrence@VyantBio.com
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