Tag: Nasdaq 20% Issuance

Nasdaq proposes to modify the requirement for shareholder approval of issuances involving 20% or more of the shares or voting power outstanding

Nasdaq is proposing to modify the listing requirements in Rule 5635(d) to (i) change the definition of market value for purposes of the shareholder approval rule and (ii) eliminate the requirement for shareholder approval of issuances at a price less than book value but greater than market value.