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Bone Biologics Corp (NASDAQ:BBLG), a medical device company specializing in orthopedic and other surgical applications with a market capitalization of $2.88 million, announced the results of its annual stockholders’ meeting held on May 30, 2025. According to InvestingPro analysis, the company appears undervalued at its current trading price of $0.88, despite facing profitability challenges in the near term. The shareholders approved several critical proposals, including an amendment to the company’s 2015 Equity Incentive Plan to increase the number of shares reserved for issuance by 30 million.
The amendment to the Equity Incentive Plan, now allowing for a total of 30,629,489 shares, of which 30,354,077 are available, is intended to offer greater flexibility in compensating and incentivizing employees, directors, and consultants. Additionally, the shareholders ratified the appointment of Weinberg & Company, P.A. as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The stockholders also voted in favor of a reverse stock split in a range not less than 1-for-2.5 and not more than 1-for-10, at the discretion of the board of directors. This move is often used by companies to boost the price of their shares and is subject to further board approval. The decision comes as the stock has declined by 45% over the past year, though InvestingPro data shows a strong return over the last month.
Furthermore, the meeting saw the election of four director nominees who will serve until the next annual meeting and until their successors are duly elected and qualified. The shareholders also approved, on an advisory basis, the company’s executive compensation and a proposal to adjourn the meeting if necessary to secure enough votes for the proposals or to establish a quorum.
The full text of the Plan Amendment has been attached as Exhibit 10.1 to the filing. This information is based on a press release statement from Bone Biologics Corp. While the company maintains a healthy current ratio of 12.59 and holds more cash than debt on its balance sheet, InvestingPro subscribers can access additional insights, including 8 more key tips about the company’s financial health and growth prospects.
In other recent news, Bone Biologics Corp has announced the date for its 2025 Annual Meeting of Stockholders, scheduled for May 30, 2025. This decision by the company’s Board of Directors marks a shift of over 30 days from the previous year’s meeting anniversary. Consequently, the deadlines for shareholder proposals and director nominations have been updated, with a new deadline set for April 11, 2025. Shareholders must ensure that any submissions comply with SEC rules and the company’s amended bylaws. The company has directed that proposals or nominations be sent to the Corporate Secretary at its headquarters in Burlington (NYSE:BURL), Massachusetts. Details about the record date and proposals to be presented will be available in the Definitive Proxy Statement on Schedule 14A, to be filed with the SEC. This announcement serves to inform shareholders and the market about the upcoming meeting and the new deadlines for participation.
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