Bluejay Diagnostics Receives Shareholder Approval for Reverse Stock Split Plan

Bluejay Diagnostics Inc. (NASDAQ:BJDX) recently held a Special Meeting of Stockholders on October 23, 2024, where important decisions were made by the company’s investors. As of the record date, September 9, 2024, a total of 25,182,946 shares of common stock were eligible to vote, out of which 6,958,210 shares, representing 42.0%, were either present in person or by proxy, thus constituting a quorum for the meeting.

A crucial proposal presented at the meeting was for the approval and adoption of an amendment to Bluejay Diagnostics’ amended and restated certificate of incorporation to facilitate a reverse stock split of the company’s common stock. Shareholders overwhelmingly supported this amendment with 5,358,166 votes in favor, 1,487,443 votes against, and 112,601 abstentions.

The reverse stock split would involve consolidating the company’s outstanding shares by a predetermined ratio ranging from 1-for-20 to 1-for-50. Despite the shareholder approval, the final decision on proceeding with the reverse stock split, the timing of its implementation, and the specific ratio to be enacted will be at the discretion of Bluejay Diagnostics’ Board of Directors, requiring no further action by the stockholders.

Neil Dey, President, and Chief Executive Officer of Bluejay Diagnostics, signed off the report following the Special Meeting. The company is now in the process of evaluating the logistics of implementing the reverse stock split, weighing various considerations to ensure the best possible outcomes for its stakeholders going forward. Investors and market analysts eagerly await further updates on this transformative move by Bluejay Diagnostics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bluejay Diagnostics’s 8K filing here.

About Bluejay Diagnostics

Bluejay Diagnostics, Inc, a medical diagnostic company, develops rapid test for the monitoring of disease progression in the United States. It is developing Symphony platform, a technology platform comprising Symphony analyzer that orchestrates blood processing, biomarker isolation, and immunoassay preparation using non-contact centrifugal force; and Symphony Cartridge, which includes reagents and components.