Pulmatrix Sets October 2 Vote on Eos SENOLYTIX Reverse Merger; Legacy Holders to Own Just 6%
PULM sits 20% above its 52-week low of $1.16.
Summary
Pulmatrix's amended S-4 sets an October 2, 2026 shareholder vote on its reverse merger with Eos SENOLYTIX, which will leave legacy Pulmatrix holders with just 6% of the combined company. The deal is critical for Pulmatrix's survival given its going concern warning and $2.2 million cash balance.
Key Events · M&A and Partnerships · PULM
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Special Meeting Set for October 2
Pulmatrix will hold a virtual special meeting on October 2, 2026, to vote on the Eos SENOLYTIX reverse merger and related proposals. Record date is August 28, 2026, with 3,652,285 shares of common stock outstanding.
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Legacy Holders Diluted to 6%
Upon completion, legacy Pulmatrix securityholders will own approximately 6% of the combined company on a fully-diluted basis, with Eos securityholders owning 94%. The estimated exchange ratio is 8.55 Pulmatrix shares per Eos share.
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CEO RSU Grant of 13M Shares
Eos granted CEO Kevin Slawin's entity, RCM Eos RSU HOLDINGS, LLC, restricted stock units equivalent to 13,000,000 shares of combined company common stock on July 7, 2026, vesting upon IND submission, FDA clearance, and first patient enrollment.
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Reverse Split and Share Increase Required
Stockholders must approve a 1-for-2 to 1-for-10 reverse stock split and an increase in authorized shares from 200 million to 250 million. Both are conditions to closing and necessary to meet Nasdaq's $4.00 minimum bid price requirement.
Analysis · PULM · Life Sciences
Pulmatrix's Amendment No. 2 to its S-4 registration statement sets the shareholder vote for October 2, 2026, on the reverse merger with Eos SENOLYTIX. The deal will leave legacy Pulmatrix holders with approximately 6% of the combined company, with Eos securityholders taking 94%. The filing confirms the estimated exchange ratio of 8.55 Pulmatrix shares per Eos share and details the CEO RSU grant of 13 million shares to Eos CEO Kevin Slawin's entity. With Pulmatrix's cash down to $2.2 million and a going concern warning in its latest 10-Q, this merger is the company's only clear path to survival. The special meeting will also vote on a 1-for-2 to 1-for-10 reverse stock split and an increase in authorized shares from 200 million to 250 million, both required to complete the transaction and maintain Nasdaq listing.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.7% of the 1872 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PULM was trading at $1.39 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.1M. The 52-week trading range was $1.16 to $5.50. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.