Wed, Aug 14, 8:43 PM (327 days ago)
On August 14, 2024, Actuate Therapeutics, Inc. announced the completion of its initial public offering (IPO), successfully issuing 2,800,000 shares at a price of $8.00 per share, resulting in net proceeds of $19.2 million after expenses. Concurrently, the company appointed independent directors Jason Keyes, Roger Sawhney, and Amy Ronneberg to its Board, effective on the same date, while Les Kreis, Jr. resigned prior to the IPO. The company also filed its Sixth Amended and Restated Certificate of Incorporation, increasing the authorized shares of common stock to 200,000,000 and establishing a classified board of directors with staggered terms. The Restated Certificate includes provisions limiting stockholder actions and designating federal district courts as the exclusive forum for certain legal matters. Additionally, the Amended and Restated Bylaws became effective, outlining procedures for stockholder proposals and director nominations. These corporate governance changes align with the company's transition to a public entity and aim to enhance its operational structure post-IPO.