On May 29, 2024 Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radioconjugates (RCs) as precision medicines, reported that at a special meeting of its shareholders (the "Shareholders"), held virtually earlier today, the Shareholders voted in favour of the resolution to approve the previously announced plan of arrangement with a wholly-owned subsidiary of AstraZeneca under the Canada Business Corporations Act pursuant to which AstraZeneca will acquire all of the issued and outstanding shares of Fusion (the "Arrangement") (Press release, Fusion Pharmaceuticals, MAY 29, 2024, View Source [SID1234643782]).
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As of the close of business on April 16, 2024, the record date of the special meeting, there were approximately 84,965,608 shares issued and outstanding and entitled to vote. A total of 68,678,602 shares were voted at the special meeting representing approximately 80.83% of the issued and outstanding shares as of the record date.
The Arrangement was approved, receiving the required affirmative vote of (i) 99.92% of the votes cast by the Shareholders, voting as a single class, present in person or represented by proxy and entitled to vote at the special meeting and (ii) 99.92% of the votes cast by the Shareholders, present in person or represented by proxy and entitled to vote at the special meeting, after excluding the votes of those Shareholders whose votes are required to be excluded under Multilateral Instrument 61-101—Protection of Minority Security Holders in Special Transactions.
The formal report on voting results with respect to all matters voted upon at the meeting will be filed under Fusion’s profile on SEDAR+ at www.sedarplus.com.
The arrangement is subject to court approval, as well as other customary closing conditions. Subject to the satisfaction of such conditions, the transaction is expected to be completed in the second quarter of 2024.