BIO-TECHNE TO SEEK APPROVAL TO IMPLEMENT FOUR-FOR-ONE STOCK SPLIT
MINNEAPOLIS, Sept. 1, 2022 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced its plan to request shareholder approval during its upcoming 2022 Annual Meeting of Shareholders (the "Annual Meeting") for an increase in the total number of authorized shares of common stock through an amendment to the Company's Articles of Incorporation to implement a four-for-one forward stock split in the form of a stock dividend. The proposed amendment to the Company's Articles of Incorporation will be voted on by shareholders during Bio-Techne's Annual Meeting on October 27, 2022. Following shareholder approval, Bio-Techne's Board of Directors intends to declare the stock split and set a record date and distribution date for the stock dividend. The stock dividend is expected to occur in the Company's second quarter of fiscal 2023.
Additional details regarding Bio-Techne's Annual Meeting, as well as the proposed four-for-one stock split can be found in the preliminary proxy that was filed with the Securities and Exchange Commission (SEC) on September 1, 2022, and the definitive proxy statement which is expected to be filed with the SEC on or about September 16, 2022.
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward looking statements in this press release include statements regarding the proposed stock split. The following important factors, among others, have affected and, in the future, could affect the Company's actual results: the effect of new branding and marketing initiatives, the integration of new businesses and leadership, the introduction and acceptance of new products, the funding and focus of the types of research by the Company's customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, customer site closures or supply chain issues resulting from the COVID-19 pandemic, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.
For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With thousands of products in its portfolio, Bio-Techne generated approximately $1.1 billion in net sales in fiscal 2022 and has approximately 3,000 employees worldwide. For more information on Bio-Techne and its brands, please visit http://www.bio-techne.com
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SOURCE Bio-Techne Corporation
Released September 1, 2022