Procyon Corporation (PCYN:OTC Pink Market) (the “Company”) announced today the results of the voting at its Special Meeting of Shareholders on October 20, 2026.
Shareholders were presented with two substantive proposals for vote, both of which passed:
Proposal No. 1: “To approve the sale of the Purchased Assets of the Company (the “Asset Sale”) pursuant to the Asset Purchase Agreement dated August 31, 2026 (the “Asset Purchase Agreement”), by and between AMERX Health Care Corporation, a wholly owned subsidiary of Procyon Corporation (“AMERX” or the “Seller”) and Frontrunner Investments LLC, a Florida limited liability company, and EXTREMIT-EASE LLC., a Florida limited liability company (collectively “Buyer”) (the “Asset Sale Proposal”).”
Proposal No. 2: “To approve the liquidation and dissolution of the Company (the “Dissolution”), which, if approved, will authorize the Company to dissolve and liquidate and to distribute the net proceeds to Shareholders (the “Distribution”) (the “Dissolution and Distribution Proposal”).”
The votes for these two proposals were as follows:
Proposal 1:
Votes for: 6,085,553
Votes against: 226,328
Abstentions: 36,100
Proposal 2:
Votes for: 6,084,552
Votes against: 226,329
Abstentions: 37,100
With respect to the Asset Sale, the Company expects to conduct a Closing of the Asset Purchase Agreement as soon as certain arrangements are in place, in approximately late November or early December, 2026.
After the Asset Sale closes, the Company will thereafter file Articles of Dissolution with the Colorado Secretary of State and commence the wind up and liquidation proceedings. The Company will then make distributions to the Common and Preferred shareholders of the Company from the net proceeds of the Asset Sale, after Dissolution, in the amounts that were stated in the Proxy Statement for the Special Meeting of Shareholders which was sent to all shareholders of record as of August 31, 2026.
After the Dissolution and wind up is concluded and the Distribution to shareholders made, the Company will cease its operations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261026442883/en/
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