Entrx Corporation

Tender Price: 
$0.35
Ticker: 
ENTX.PK
Last Trade: 
$0.21
Tender Limit: 
Less than 500
Method: 
Reverse/Forward Stock Split
Potential Gain: 
66.67%
Vote Date: 
Apr 15 2009 - 10:00
Broker Held Shares: 
OK

"Entrx intends for the Reverse/Forward Split to treat shareholders holding Common Stock in street name through a nominee (such as a bank or broker) in the same manner as shareholders whose shares are registered in their names. Nominees will be instructed to effect the Reverse/Forward Split for their beneficial holders. However, nominees may have different procedures and shareholders holding shares in street name should contact their nominees."

New Preliminary Proxy on 2/10/2009 indicates the meeting date will be 04/15/2009

05/18/2009 - At a special meeting of the Company’s shareholders held beginning at 10:00 a.m. on May 4, 2009, the shareholders adopted two amendments to the Company’s Certificate of Incorporation. The first amendment, which effected a 1-for-500 share reverse stock split of the Company’s common stock, was adopted by a vote of 4,062,458 shares in favor and 268,244 shares against, with 2,109 shares abstaining. The second amendment, which effected a 500-for-1 share forward stock split, was adopted by a vote of 4,065,744 shares in favor and 264,958 shares against, with 2,109 shares abstaining. An affirmative vote of shareholders holding 3,828,074 shares, or a majority of the 7,656,147 shares outstanding, was required to adopt each amendment. The Certificates of Amendment have been filed with the Delaware Secretary of State. The first amendment was effective at 6:00 p.m. eastern daylight time on May 15, 2009, and the second amendment was effective at 6:01 p.m. eastern daylight time on May 15, 2009. Shareholders who hold fractional shares (that is, less than one share in any account) following the effectiveness of the first amendment will receive $0.35 per pre-reverse split share upon submission of the certificates representing those pre-split shares to the Company through its transfer agent, American Stock Transfer and Trust Company. It is estimated that 1,500 shareholders holding 170,000 pre-reverse split shares will be cashed out in this manner. The exact number will not be known for several months.

Financing: 
cash on hand
Phase: 
Completed
News: 
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