Micro Therapeutics Seeks Shares Increase

Micro Therapeutics Inc. is seeking shareholder approval to increase the number of authorized shares of common stock to 35 million from 20 million, according to a proxy statement filed late Tuesday with the Securities and Exchange Commission.

The Irvine company is seeking the increase to ensure that there are enough shares for additional stock offerings, acquisitions, stock dividends and compensation plans, according to the filing.

Shareholders can vote on the proposal at the company’s annual meeting May 31 in Irvine.

Micro Therapeutics develops and markets minimally invasive medical instruments for the diagnosis and treatment of vascular diseases.

The stock was unchanged at $4.06 a share in Nasdaq trading.