Amedica adjourned a special stockholder meeting, scheduled for Sept. 7.
Here are five takeaways:
1. The company adjourned the meeting to provide for the "solicitation of additional votes in favor of the proposal contained in the definitive proxy statement" it filed July 28 with the Securities and Exchange Commission.
2. The statement regarded a reverse split of Amedica's common stock, and requires approval of a majority of outstanding shares.
3. As of today, more than 13 million shares remained unvoted.
4. The stockholder meeting will commence Sept. 21. In the meantime, Amedica will solicit proxies from its stockholders.
5. Two leading independent proxy advisory firms suggest stockholder vote in favor of the reverse split.