Sept 22 (Reuters) - Delcath Systems Inc
* Delcath Systems - CEO issued letter to stockholders providing business update, "rationale for company's recent actions to preserve access to capital"
* Delcath - as a result of shareholder non-approval of proposed reverse stock split, co could not regain compliance with continued listing on Nasdaq
* Delcath Systems - since stock split proposal did not achieve required shareholder support, underlying issue of authorized share limit remains
* Delcath Systems Inc - concluded an agreement with 2016 convertible note holders that will resolve authorized shares limit issue
* Delcath Systems - agreement with 2016 convertible note holders provides for issuance of Series C preferred shares in exchange for $0.5 mln in cash
* Delcath - unless co makes authorized shares available, access capital, it does not have ability to fund business, continue operations beyond next few months Source text for Eikon: Further company coverage: