DEFA14A: Tenax Therapeutics Engages Morrow Sodali for Proxy Solicitation Ahead of Annual Meeting

Tenax Therapeutics has hired Morrow Sodali to assist with proxy solicitation for its upcoming annual meeting on June 7, 2024.

Summary

• Tenax Therapeutics has engaged Morrow Sodali LLC to solicit proxies for the Annual Meeting of Stockholders.
• The base cost for Morrow Sodali's services is approximately $10,000, with additional variable costs for further services and expenses.
• Morrow Sodali may solicit proxies via mail, telephone, email, or personal contact.
• The company will bear the cost of solicitation, including Morrow Sodali's fees and expenses.
• Stockholders with questions or requiring assistance with voting can contact Morrow Sodali by email or telephone.

Sentiment

Score: 7

Explanation: The document is a routine announcement about engaging a proxy solicitor, indicating a neutral to slightly positive sentiment as the company is taking steps to ensure stockholder participation.

Positives

• Tenax Therapeutics is taking proactive steps to ensure stockholder participation in the Annual Meeting by hiring a proxy solicitation firm.
• Stockholders have multiple channels to seek assistance with voting, including email and telephone.

Future Outlook

The document does not contain specific forward-looking statements beyond the upcoming Annual Meeting.

Industry Context

Engaging a proxy solicitation firm is a common practice for publicly traded companies to ensure sufficient stockholder participation in important votes, especially when facing potentially contentious issues or low expected turnout.

Comparison to Industry Standards

• The cost of proxy solicitation services varies depending on the size and complexity of the company and the specific issues being voted on.
• For a company of Tenax Therapeutics' size, a base cost of $10,000 for proxy solicitation is within the typical range.
• Larger companies may spend significantly more on proxy solicitation, potentially reaching hundreds of thousands of dollars.

Stakeholder Impact

• Shareholders are encouraged to participate in the voting process.
• The company is incurring expenses to facilitate shareholder participation.

Next Steps

• Morrow Sodali will begin soliciting proxies from Tenax Therapeutics stockholders.
• Stockholders will vote on the proposals outlined in the Proxy Statement at the Annual Meeting on June 7, 2024.

Key Dates

Keywords

Proxy Solicitation, Morrow Sodali, Annual Meeting, Tenax Therapeutics, Stockholders, Voting