Here how Ocugen, Inc. (OCGN), shares jumped in the After hours

Ocugen, Inc. (NASDAQ: OCGN), shares spiked more than 70% to $1.37 in the After-hours ‎Session after the company announced that on December 23, 2020, at 11:00 a.m. Eastern ‎Time its 2020 Annual Meeting of Stockholders will convene and will adjourn solely ‎concerning its Definitive Proxy Statement filed with the Securities and Exchange ‎Commission on October 30, 2020.

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‎A proposal referred to as Item 2 is a proposal to amend the Company’s Sixth Amended and ‎Restated Certificate of Incorporation to increase the number of shares authorized for ‎common stock. This adjournment is planned to give stockholders additional time to vote on ‎Item 2. Continuing with the discussion of Item 2 at 11:00 a.m. Eastern time on January 13, ‎‎2021, the Annual Meeting will be held virtually.‎

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The record date for the decision of the registered voting stockholders at the annual meeting ‎will remain at the close of business on 28 October 2020. According to the proposed proxy ‎amendment, the Company’s Sixth Amended and Restated Certificate of Organization will be ‎updated by reducing the proposed aggregate number of shares of common stock that it ‎would be authorized to issue to 400,000,000 shares. Upon the record date of December 23, ‎‎2020, stockholders of the Company will receive a copy of the proxy amendment.‎‎

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The record date for ‎determining who is eligible to vote at the annual meeting will be October 28, 2020 close of ‎business. All proxy votes already submitted for the reconvened Annual Meeting will remain ‎valid. The Definitive Proxy Statement describes the process stockholders who have already ‎submitted proxies, can update their vote on the modified item.‎

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