Endologix shareholders approve reverse split

Endologix (NSDQ:ELGX) shareholders last week approved an upcoming reverse split of the company’s shares, according to a recently posted SEC filing.

Shareholders in the Irvine, Calif.-based company voted to approve a reverse stock split “at a ratio not less than 1-for-5 and not greater than 1 for-10,” according to the SEC filing.

The exact ratio has not yet been set, and will be decided by the company’s board of directors. The board may also “alternatively elect to abandon such proposed amendment,” according to the filing.

Last month, Endologix said that the CE Mark approval for its Nellix stent graft system designed for treating abdominal aortic aneurysms was suspended by its notified body, GMED.

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