AlloVir, Inc. Reports Positive Voting Outcome for Proposed Reverse Stock Split

AlloVir, Inc., a Delaware corporation and a leading company in the biopharmaceutical industry, recently convened a special meeting of stockholders on January 9, 2025. At this meeting, stockholders voted on key proposals presented by the company. AlloVir’s stockholders deliberated on two main proposals:

Proposal 1: The approval of an amendment to AlloVir’s Third Amended and Restated Certificate of Incorporation to authorize the Board of Directors to conduct a reverse stock split of AlloVir’s common stock at any ratio within the range of 1-for-15 to 1-for-35. Under this proposal, the Board would have the discretion to determine the exact ratio of the reverse stock split without requiring further approval from the stockholders.

Proposal 2: A consideration regarding an adjournment of the Special Meeting to gather additional proxies in case the vote for the Reverse Stock Split Proposal did not secure sufficient approval.

The results of the voting at the Special Meeting were firmly in favor of AlloVir. Stockholders representing approximately 93.97% of the voting power as of December 5, 2024, participated in the decision-making process. The final tally for Proposal 1 showed an overwhelming approval for the amendment for the reverse stock split, with 96,216,120 votes in favor, 12,082,172 votes against, and 303,036 abstentions.

With the successful approval of the Reverse Stock Split Proposal, the need for the Adjournment Proposal was eliminated, as the votes in favor of the reverse stock split were more than sufficient. AlloVir’s Board of Directors will determine the exact timing and ratio of the Reverse Stock Split, with plans to make a public announcement once finalized.

The successful outcome in the voting process underscores the confidence of AlloVir’s stockholders in the strategic direction set forth by the company’s leadership. This positive development paves the way for future corporate actions and underscores the continued support for AlloVir’s growth and expansion plans in the biopharmaceutical sector.

For the full details of the proposals and voting results, interested parties may access the Reverse Split Proxy Statement filed by AlloVir on December 6, 2024, to gain further insight into the deliberations and outcomes of the Special Meeting. AlloVir remains committed to transparency and shareholder engagement as it progresses through this important phase of corporate development.

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

About AlloVir

Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus.