Petros Pharmaceuticals (NASDAQ:PTPI) stock is surging higher on Tuesday following a filing with the U.S. Securities and Exchange Commission (SEC).
Let’s dive into that news below to see why investors in PTPI stock are excited today.
- A filing with the SEC made after-hours Monday reveals an annual meeting of shares holders will take place next month.
- The event will take place on Dec. 22 and will be virtual due to the current Covid-19 situation.
- The meeting is set to start at 10:00 a.m. Eastern Time that day.
- In that SEC filing, the company also notes that the event will see five Board seats voted on.
- In addition to that, it plans to hold a vote to increase the aggregate number of shares available for the grant of awards by 1,521,654 shares.
- That would bring the total up to 2,600,000 shares.
- The meeting will also have shareholders voting on the appointment of EisnerAmper as the company’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2021.
- Petros Pharmaceuticals’ Board of Directors is advising shareholders of PTPI stock to vote in favor of all three of these issues.
- News of the annual meeting of shareholders has PTPI stock experiencing heavier-than-normal trading today.
- That has some 68 million shares of the stock on the move as of this writing.
- This is a hefty jump over the company’s daily average trading volume of about 4.9 million shares.
PTPI stock is up 65.4% as of Tuesday morning but is down 50% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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