Cosmos Health shareholders approve increase in authorized shares and board elections

Cosmos Health Inc. (NASDAQ:COSM) reported Tuesday that shareholders approved several proposals at the company’s annual meeting held on September 30, including an amendment to increase the number of authorized shares of capital stock to 1.5 billion shares of common stock and 300 million shares of “blank check” preferred stock. The amendment will become effective upon filing with the Secretary of State of Nevada.

At the meeting, approximately 53% of outstanding shares were represented in person or by proxy. All proposals presented by the board were approved.

Shareholders elected Grigorios Siokas, Demetrios G. Demetriades, John J. Hoidas, Dr. Anastasios Aslidis, Suhel Bhutawala, and Theodoros C. Karkantzos to serve as directors until the next annual meeting. Vote totals for each director ranged from about 12 million to nearly 13.8 million in favor, with 2.1 million to 3.9 million votes withheld.

Shareholders also authorized the board to amend the company’s articles of incorporation to effect a reverse stock split at its discretion. The proposal received 13,898,821 votes in favor and 2,084,235 against.

Other approved proposals included the issuance of shares of common stock upon conversion of notes in compliance with Nasdaq Listing Rule 5635(d), the ratification of the appointment of the company’s independent registered public accounting firm, approval of the 2025 Equity Omnibus Plan, and a non-binding advisory vote on executive compensation. The frequency of future “say on pay” votes was also approved, with the majority favoring a three-year interval.

The results and details of each proposal were disclosed in a press release statement and an accompanying SEC filing. Cosmos Health Inc. is incorporated in Nevada and trades on the Nasdaq Capital Market under the symbol COSM. InvestingPro analysis indicates the company maintains a FAIR overall financial health score, though it currently operates with weak gross profit margins. Subscribers to InvestingPro can access 5 additional key insights about COSM’s financial performance and future outlook.

In other recent news, Cosmos Health Inc. reported a revenue of $28.46 million for the first half of 2025, marking an 11.7% increase compared to the same period in 2024. The company also saw a significant rise in gross profit, up 53% year-over-year to $3.21 million, indicating a strategic focus on higher-margin branded products. Additionally, Cosmos Health has commenced its U.S. operations by launching its Sky Premium Life food supplements brand, starting with NOOR Collagen, manufactured in GMP-certified, FDA-registered, and UL-audited U.S. facilities.

In a strategic move to enhance its financial portfolio, Cosmos Health began building an Ethereum treasury with an initial $1 million purchase, leveraging a financing facility of up to $300 million with a U.S.-based institutional investor. This facility is part of a broader strategy to transform the company into a significant force in the crypto space. Furthermore, Cosmos Health secured a $300 million convertible note facility to support its Ethereum digital asset treasury reserve strategy. At least 72.5% of the net proceeds from each tranche closing will be allocated toward building this digital asset treasury reserve, with the rest directed toward working capital and growth initiatives.

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