ROCKVILLE, Md., Oct. 23, 2012 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) announced today the results of the reconvened special meeting of Nabi stockholders held on October 22, 2012 (the "Nabi Special Meeting"). Nabi also announced that the stockholders of Biota Holdings Limited (ASX:BTA.AX) approved the proposed business combination transaction between Nabi and Biota at the meeting of Biota stockholders held on October 23, 2012 in Melbourne, Australia.
Nabi stockholders voted at the Nabi Special Meeting to approve the following proposals:
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A proposal to approve an amendment to the Nabi Restated Certificate of Incorporation (the "Nabi Certificate of Incorporation") to increase the authorized shares of Nabi common stock from 125,000,000 shares to 200,000,000 shares;
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A proposal to approve an amendment to the Nabi Certificate of Incorporation to change the name of Nabi from "Nabi Biopharmaceuticals" to "Biota Pharmaceuticals, Inc.";
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A proposal to approve an amendment to the Nabi Certificate of Incorporation to effect a reverse stock split of Nabi common stock at any time prior to December 31, 2012 at a ratio ranging from four-to-one to eight-to-one, as determined by Nabi's board of directors in its sole discretion; and
- A proposal to approve the issuance of shares of Nabi common stock to stockholders of Biota contemplated by the merger implementation agreement between Nabi and Biota, dated as of April 22, 2012, as amended.
Nabi stockholders voted at the Nabi Special Meeting not to approve the proposal to approve, on an advisory (non-binding) basis, the compensation payable to certain executive officers of Nabi under existing arrangements in connection with the business combined transaction between Nabi and Biota.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals, headquartered in Rockville, Maryland, is a biopharmaceutical company that has focused on the development of vaccines addressing unmet medical needs, including nicotine addiction. Its sole product currently in development is NicVAX® (Nicotine Conjugate Vaccine), an innovative and proprietary investigational vaccine for the treatment of nicotine addiction and prevention of smoking relapse based on patented technology. For additional information about Nabi Biopharmaceuticals, please visit www.nabi.com.