Intec Pharma Ltd. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
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Item 5.07. Submission of Matters to a Vote of Security Holders.
On June 21, 2021, Intec Pharma Ltd. (the “Company” or “Intec Israel”) held a special meeting of shareholders (the “Special Meeting”) to consider seven proposals related to the Company’s merger with Decoy Biosystems, Inc., a Delaware corporation (“Decoy”), in connection with the Agreement and Plan of Merger and Reorganization dated March 15, 2021 (the “Merger Agreement”) among the Company, Intec Parent, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Intec Parent”), Dillon Merger Subsidiary Inc., a Delaware corporation (“Merger Sub”), Domestication Merger Sub, Ltd., an Israeli company and a wholly-owned subsidiary of Intec Parent (“Domestication Merger Sub”), and Decoy. Each of the Company’s proposals was approved by the requisite vote of the Company’s shareholders as described below.
At the close of business on May 20, 2021, the record date for the Special Meeting, there were 4,821,971 ordinary shares of the Company outstanding. The holders of a total of 2,024,212 ordinary shares of the Company were represented at the Special Meeting in person or by proxy, representing approximately 42% of the Company’s ordinary shares entitled to vote at the Special Meeting, which total constituted a quorum for the Special Meeting in accordance with the Company’s bylaws.
Set forth below are the matters acted upon by the Company’s shareholders at the Special Meeting and the final voting results on each such matter. Each proposal required approval by holders of a majority of shares of the Company present and entitled to vote a meeting at which a quorum is present. For more information on these proposals, please refer to the Company’s joint proxy statement/prospectus for the Special Meeting, filed with the Securities and Exchange Commission on May 14, 2021.
1. Approval of the merger of Merger Sub with and into Decoy, the Merger Agreement and the transactions contemplated thereunder:
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 768,706 | 14,460 | 826 | 1,240,220 | |||||||||
2. Approval of the domestication of the Company from Israel to the State of Delaware by Domestication Merger Sub merging with and into the Company, the Merger Agreement and certain matters related thereto, including Intec Parent’s amended and restated certificate of incorporation:
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 770,015 | 13,409 | 568 | 1,240,220 | |||||||||
3. Approval to grant discretionary authority to the board of directors of the Company to amend the articles of association of the Company to effect a reverse stock split of Intec Israel ordinary shares at a ratio within the range between 1-for-2 and 1-for-4 to be effective at the ratio and on a date to be determined by the board of directors of Intec Israel in its sole discretion, prior to the effectiveness of the Domestication Merger.
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 1,923,825 | 92,405 | 7,892 | 0 | |||||||||
4. Approval to elect Michael J. Newman, Ph.D., Jeffrey A. Meckler, Anthony J. Maddaluna, Hila Karah, Dr. Roger J. Pomerantz, William B. Hayes, Hoonmo Lee and Brian O’Callaghan to serve staggered terms until the first, second and third annual general meeting:
| Nominee | For | Against | Abstain | Broker Non-Votes | ||||||||||
| Michael J. Newmann, Ph.D. | 763,139 | 13,419 | 7,434 | 1,240,220 | ||||||||||
| Jeffrey A. Meckler | 760,090 | 15,426 | 8,476 | 1,240,220 | ||||||||||
| Anthony J. Maddaluna | 763,460 | 11,886 | 8,646 | 1,240,220 | ||||||||||
| Hila Karah | 756,240 | 15,209 | 12,543 | 1,240,220 | ||||||||||
| Dr. Roger J. Pomerantz | 764,689 | 10,597 | 8,706 | 1,240,220 | ||||||||||
| William B. Hayes | 754,043 | 15,724 | 14,225 | 1,240,220 | ||||||||||
| Hoonmo Lee | 750,130 | 20,374 | 13,488 | 1,240,220 | ||||||||||
| Brian O’Callaghan | 759,929 | 10,441 | 13,622 | 1,240,220 | ||||||||||
5. Approval and adoption of the Intec Parent Option Plan:
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 749,039 | 21,961 | 12,993 | 1,240,220 | |||||||||
6. Approval of the issuance of such number of Company ordinary shares or Intec Parent common stock in a closing financing as would yield aggregate gross proceeds to the Company or Intec Parent, as applicable, such that the combined net cash of Intec Parent will be not less than $30 million and not more than $50 million:
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 743,435 | 28,129 | 12,429 | 1,240,220 | |||||||||
7. Approval to adjourn the meeting.
| For | Against | Abstain | Broker Non-Votes | |||||||||
| 2,006,463 | 10,759 | 6,990 | 0 | |||||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 22, 2021
| INTEC PHARMA LTD. | ||
| By: | /s/ Nir Sassi | |
| Nir Sassi | ||
| Chief Financial Officer | ||
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