CLXT - Calyxt stockholders approve merger and reverse stock split; anticipated name change and ticker symbol for combined company
2023-05-19 16:31:15 ET
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- Calyxt ( NASDAQ: CLXT ) held a special meeting of its stockholders on May 18, where stockholders voted in favor of all proposals, including the issuance of shares of Class A and Class B common stock as part of the proposed merger with Cibus Global.
- The merger is expected to close on or around May 31, pending the satisfaction of remaining closing conditions. After the merger, the company will change its name from Calyxt, Inc. to Cibus, Inc. and trade on The Nasdaq Capital Market under the ticker symbol "CBUS," with Cibus' existing management team leading the combined company.
- Calyxt will undergo a 1-for-5 reverse stock split, effective on May 31, coinciding with the merger closing. This means that every five shares of Calyxt common stock will be combined into one share of Calyxt common stock.
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Calyxt stockholders approve merger and reverse stock split; anticipated name change and ticker symbol for combined company