CHESTERBROOK, PA — Trevena, Inc. (Nasdaq: TRVN) recently announced that Glass Lewis and ISS, two independent, leading proxy advisory firms, have both recommended that Trevena shareholders vote “FOR” Proposals 1 & 2 set forth in its Definitive Proxy Statement filed with the Securities and Exchange Commission on July 6, 2021 in connection with its Special Meeting of Stockholders, which seek to amend Trevena’s Amended and Restated Certificate of Incorporation to approve a Reverse Stock Split and concurrent Authorized Share Reduction. The Special Meeting will be held on August 9, 2021, at 8:30 a.m. ET and will be held virtually at http://www.virtualshareholdermeeting.com/TRVN2021SM.
“We greatly appreciate the third-party, independent recommendations from both Glass Lewis and ISS,” said Carrie Bourdow, President and CEO of Trevena. “Trevena has had a transformational year and these proposals are key to positioning the company for continued long term growth, as detailed in our Proxy Statement.”
Glass Lewis and ISS are widely recognized as two of the leading independent proxy voting and corporate governance advisory firms. Their recommendations are relied upon by institutional investment firms, mutual funds, and other fiduciaries globally. Glass Lewis and ISS are independent proxy advisory firms and do not have any business relationship with Trevena. Trevena did not engage or compensate either firm for its analysis or recommendations.
Trevena shareholders are urged to vote as Glass Lewis and ISS recommend by voting “FOR” the two proposals detailed below:
- Proposal 1: Approval of a reverse stock split of our issued and outstanding shares of common stock at a ratio of one (1) share of common stock for every four (4) shares of common stock (the “Reverse Stock Split”), to be effected through an amendment to our amended and restated certificate of incorporation (as amended, the “Restated Certificate”); and
- Proposal 2: Approval to decrease the number of authorized shares of common stock from 200,000,000 to 100,000,000 (the “Authorized Share Reduction”), contingent upon and concurrent with the Reverse Stock Split, to be effected through an amendment to the Restated Certificate.
Shareholders with questions may call Alliance Advisors, LLC at 833-501-4709 or by email at [email protected].
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