CLSN - Celsion under pressure on 1-for-15 reverse stock split

Celsion (NASDAQ:CLSN) trades 8.1% down premarket after it plans to implement a consolidation (reverse stock split) of its outstanding shares on the basis of 1-for-15 currently outstanding shares. The new shares will be effective for trading purposes as of Mar.1, 2022 under the same ticker symbol. The new number of outstanding common shares will be ~5.8M shares; number of authorized shares and the par value per share will remain unchanged. The number of outstanding options and warrants will be adjusted accordingly, with outstanding options being ~437.5K and outstanding warrants being ~168.5K.

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Celsion under pressure on 1-for-15 reverse stock split