Inovio wants to increase authorized shares from 300M to 600M.
Proxy Statement Def 14(a) on page 29. Proposal 3, increase authorized common shares from 300M to 600M. Make sure you read the potential effects of the amendment on page 30. I for one will vote against it. Stop their ability to dilute, I'm getting tired of seeing my investments get cut in half.
A forward split increases the total number of outstanding shares. For example: if there is a 2-for-1 forward split, each shareholder will receive extra shares in the same amount as he already holds. He will now own twice as many shares, but each share will be worth half the amount it was worth before the split. A forward split does not affect the percentage ownership held by each shareholder, just the number of shares. It also doesn't affect the number of authorized shares unless the forward split will require more shares than are already authorized. That means the company must petition to raise the number of authorized shares.
You do realize it's just to authorize them to get more shares if they need too. Not that they are gonna do it right away. The only reason for it really at this point is for a take over target that compliments their business or to block a hostile takeover from big pharma.
Example: If they don't authorize the shares and the vote fails. Big pharma can come in and bid $2 for INO and outright buy the whole float. Without the extra authorized shares there will be no way for INO to block the hostile takeover even if they wanted too. Personally id rather authorize it in case they need to block a hostile takeover because I don't want to see INO bought at 2.47 like YMI was!