CG Oncology, Inc. (CGON) has released an update to notify the public and investors about corporate charter and bylaws modifications.
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CG Oncology, Inc. filed an amended and restated certificate of incorporation on January 29, 2024, to coincide with its IPO, increasing authorized common stock to 700 million shares and preferred stock to 70 million, establishing a classified board with staggered terms, limiting director removal, and restricting stockholder actions to meetings. It designated federal district courts and the Delaware Court of Chancery as exclusive legal forums. Concurrently, the company’s amended bylaws took effect, outlining stockholder proposal and director nomination procedures, aligning with the certificate’s amendments.
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For a comprehensive understanding of the announcement, you can read the full document here.