Capstone Holding shareholders back cut in authorized common shares to as low as 5,000,000
CAPS•Shareholders holding 56.4% of Capstone Therapeutics’ voting power consented to amendments reducing authorized common and preferred shares. The board also gained authority to exchange preferred stock and accrued management fees for up to 15.75 million common shares.
1. Shareholder consent
Capstone Therapeutics said shareholders holding 56.4% of voting power delivered written consent on Aug. 7, 2026, approving amendments to reduce authorized common and preferred shares without a meeting. The board also gained authority to exchange Series Z 8% Non-Convertible Preferred Stock and accrued management fees for up to 15.75 million common shares, priced at 103% of the Nasdaq Official Closing Price before each transaction; recipients must sign 18-month lock-ups.
2. Effective date
The actions take effect no earlier than 20 days after an information statement is mailed, which the company said was expected on or about Oct. 6, 2026.
