SRx Health Solutions stockholders approve share increase and reverse split

Stockholders of SRx Health Solutions, Inc. (NYSE:SRXH) approved several corporate actions by written consent on Wednesday, according to a statement based on a recent SEC filing.

The actions approved by holders of a majority of the company’s voting power as of October 7 include authorizing the issuance of more than 19.99% of outstanding common stock under two separate agreements: a Common Share Purchase Agreement and a Securities Purchase Agreement. Both agreements allow for the issuance of common stock or securities convertible into or exercisable for common stock, such as notes or warrants.

Stockholders also approved a proposed future private offering to accredited investors that may result in the issuance of more than 19.99% of the company’s outstanding common stock or related securities.

In addition, the company’s Certificate of Incorporation will be amended to increase the number of authorized shares of common stock from 200 million to 5 billion.

Other approved measures include an amendment to the company’s bylaws to reduce the quorum requirement for stockholder meetings from a majority to one third of the outstanding shares, and authorization for an additional reverse stock split of the common stock. This reverse split, to be executed at a ratio between 15-to-1 and 85-to-1, will occur after a previously approved reverse stock split, with the timing and exact ratio to be determined by the board of directors but no later than March 31, 2026.

The written consent was provided by stockholders representing 51.20% of the company’s outstanding voting power, with 13,052,560 shares out of 25,491,843 voting in favor. There were no votes against, abstentions, or broker non-votes as the actions were approved by written consent.

This information is based on a press release statement included in the company’s SEC filing.

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