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Nuwellis, Inc. (NASDAQ:NUWE) announced Monday that its stockholders approved all proposals presented at a special meeting held via live webcast. The information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
At the meeting, shareholders voted on four proposals. The first proposal, which authorized the issuance of shares of common stock in accordance with Nasdaq Listing Rule 5635(d) related to warrants sold in a June 10, 2025, financing transaction, was approved with 28,004 votes in favor, 6,626 against, and 43 abstentions. This comes as InvestingPro analysis shows the company maintains a healthy current ratio of 2.23, though it faces profitability challenges with negative EBITDA of $8.84 million in the last twelve months.
The second proposal, to amend the company’s certificate of incorporation to increase the authorized number of common shares from 100,000,000 to 200,000,000, received 42,325 votes for, 15,715 against, and 829 abstentions.
The third proposal, approving an amendment to effect a reverse stock split at a ratio between 1-for-5 and 1-for-70 at the discretion of the board of directors, was approved with 41,449 votes in favor, 17,337 against, and 83 abstentions. The reverse split is intended to help the company comply with Nasdaq Capital Market’s continued listing requirements. The board may implement the split within twelve months following the approval.
The fourth proposal, which authorized potential adjournment of the meeting to solicit additional proxies if needed for the other proposals, was approved with 41,884 votes for, 14,626 against, and 2,359 abstentions.
A total of 130,154 shares, representing approximately 45.23% of outstanding common stock as of the record date, were present at the meeting in person or by proxy.
Nuwellis, headquartered in Eden Prairie, Minnesota, is listed on the Nasdaq Capital Market under the ticker NUWE. The company is scheduled to report its next earnings on August 12, 2025. For deeper insights into Nuwellis’s financial health, valuation metrics, and expert analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analytics and actionable intelligence.
In other recent news, Nuwellis, Inc. announced it has regained compliance with Nasdaq’s minimum bid price requirement, thus avoiding a scheduled delisting hearing. This compliance was confirmed by Nasdaq on July 22, allowing Nuwellis to continue trading on the Nasdaq Capital Market. Additionally, the company decided to terminate its REVERSE-HF clinical trial, which evaluated ultrafiltration against IV loop diuretic therapy for fluid management in heart failure patients. This decision aligns with Nuwellis’s strategic focus on areas with greater potential for patient impact and business growth, such as outpatient heart failure, pediatric, and critical care settings.
Moreover, Nuwellis secured a new U.S. patent for its fluid management technology, specifically titled "Extracorporeal Blood Filtering Machine and Methods." This patent is expected to enhance the accuracy of fluid balance calculations in continuous renal replacement therapy systems. These developments reflect Nuwellis’s ongoing efforts to refine its business strategy and strengthen its technological capabilities.
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