aibioProvectus holders authorize reverse split of between 1-for-10 and 1-for-50
Tickers PVCT
Provectus holders authorized a reverse split of between 1-for-10 and 1-for-50, with the ratio left to the board, and a matching cut in authorized shares. The company had $251,291 of cash at December 31, 2025, and its net loss widened to $5.4 million.
Key facts
- Company
- Provectus Biopharmaceuticals, Inc. (OTC: PVCT)
- News type
- Listings
- Primary source
- Provectus Biopharmaceuticals, Inc. 8-K (2026-06-22)
The vote
Provectus Biopharmaceuticals, Inc. (PVCT) held its annual meeting of stockholders on June 18, 2026 and reported the results in a Form 8-K filed June 22, 2026. Stockholders voted on five proposals. The 8-K says each one was consistent with the board's recommendation.
The reverse split proposal authorizes the board to amend the certificate of incorporation to effect a reverse stock split of the common stock, the Series D Convertible Preferred Stock and the Series D-1 Convertible Preferred Stock. The ratio falls between 1-for-10 and 1-for-50, and the board will set it at its discretion. The proposal passed with 315,344,309 votes for, 23,622,833 against and 863,751 abstaining. The 8-K says the amendments will also adjust certain preferred terms proportionally.
A second proposal authorized the board to cut the authorized common and preferred shares by the same ratio. It passed with 311,771,119 votes for, 22,227,876 against and 5,831,898 abstaining.
Directors and the other votes
Stockholders elected Webster Bailey, John Lacey, III, M.D., Ed Pershing, CPA, and Dominic Rodrigues as directors for one-year terms. Each received more votes for than withheld, with 131,619,889 broker non-votes on the director proposal. The vote counts were: Bailey 191,823,174 for and 16,387,830 withheld; Lacey 191,947,635 for and 16,263,369 withheld; Pershing 197,553,672 for and 10,657,332 withheld, the highest support of the four; and Rodrigues 192,036,957 for and 16,174,047 withheld.
The advisory vote on executive pay passed with 190,162,705 votes for and 16,667,960 against, with 1,380,339 abstaining. Stockholders also ratified CBIZ CPAs P.C. as the independent registered public accounting firm for 2026.
What a reverse split does here
A reverse split cuts the number of shares outstanding and raises the price per share. The 8-K does not say the board has chosen a ratio, does not give the reason for the split, and does not give the current share count or share price. Because the ratio is left open between 10 and 50, the reduction in shares could be anywhere within that range.
The matching cut in authorized shares means the company will have room to issue shares after the split, but the 8-K does not say whether the board plans to use that room.
The company's finances
The company's annual report on Form 10-K, filed March 26, 2026, reports research and development expense of $1.9 million in 2025, down from $2.1 million in 2024. The net loss was $5.4 million in 2025, up from $4.7 million in 2024. Cash used in operations was $3.3 million in both years.
Year-end cash and cash equivalents were $251,291 at December 31, 2025, down from $307,442 a year earlier. Cash used in operations of $3.3 million in 2025 compares with year-end cash of $251,291.
The business behind the split
The 10-K describes Provectus as a clinical-stage biotechnology company developing immunotherapy medicines based on rose bengal sodium, a synthetic small molecule in the class known as halogenated xanthenes. The company says that compound is the active ingredient in its clinical development programs.
The 8-K gives no update on the development programs.
What comes next
The next step is the board's choice of ratio within the approved range, which the 8-K does not date. The split would apply to the common stock and both series of preferred, and the share count will fall by whatever ratio the board picks.