Company: BGLC
Filing Date: 2025-02-10
Form Type: PRE 14A
Source: 0001477932-25-000832
Chunk: 10

Company: BioNexus Gene Lab Corp
Filing Date: 2025-02-10
Form: PRE 14A
Chunk 10
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 solicitation; however, we will not pay them additional compensation for any of these services. We have engaged [*] (“[*]”) to assist us with the solicitation of proxies for the Special Meeting. We expect to pay [*] approximately $[*], plus expenses, for its services.

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<div align='center'>MATTERS TO BE CONSIDERED AT SPECIAL MEETING

PROPOSAL 1:

REVERSE STOCK SPLIT PROPOSAL:

APPROVAL OF AN AMENDMENT TO

THE COMPANY’S AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO EFFECT

THE REVERSE STOCK SPLIT</div>

Background

On [*], 2025, subject to stockholder approval, the Company’s Board of Directors (the “Board”) approved an amendment (the “Charter Amendment”) to our articles of incorporation, as amended (our “Charter”) to, at the discretion of the Board, effect a reverse stock split of our Common Stock at a ratio of 1:5 to 1:10 (the “Reverse Stock Split”), with the exact ratio within such range to be determined by the Board at its discretion. The primary goal of the Reverse Stock Split is to increase the per share market price of our Common Stock to meet the minimum per share bid price requirements for continued listing on the Nasdaq Capital Market and to provide additional flexibility with respect to capital raising efforts and general corporate needs. We believe that a range of Reverse Stock Split ratios provides us with the most flexibility to achieve the desired results of the Reverse Stock Split. The Reverse Stock Split is not intended as, and will not have the effect of, a “going private transaction” covered by Rule 13e-3 promulgated under the Exchange Act. The Reverse Stock Split is not intended to modify the rights of existing stockholders in any material respect.

If the Reverse Stock Split Proposal is approved by our stockholders and the Reverse Stock Split is effected, up to every 10 shares of our outstanding Common Stock would be combined and reclassified into one share of Common Stock. The actual timing for implementation of the Reverse Stock Split and the reverse split ratio would be determined by the Board based upon its evaluation as to when such action would be most advantageous to the Company and our stockholders. Notwithstanding approval of the Reverse Stock Split Proposal by our stockholders, the Board will have the sole authority to elect whether or not and when to amend our Charter to effect the Reverse Stock Split. If the Reverse Stock Split Proposal is approved by