NBRV - Nabriva Therapeutics to effect 1-for-25 reverse stock split
- Biopharmaceutical company Nabriva Therapeutics ( NASDAQ: NBRV ) is set to effect a 1-for-25 reverse stock split, effective for trading purposes on the Nasdaq Capital Market as of Sep. 16.
- The company's shareholders approved the stock split at the annual general meeting of the shareholders on Aug. 11.
- The split is still subject to and conditional upon the board determining that the action is necessary for compliance with the minimum $1.00 per share requirement of Nasdaq.
- The shares will continue to trade on the stock exchange under the symbol NBRV.
- The reverse stock split will reduce the number of outstanding ordinary shares to ~2.8M from ~69.7M and reduce the number of authorized ordinary shares to 12M from 300M.
- NBRV shares were trading +63.24% pre-market.
- Source: Press Release
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Nabriva Therapeutics to effect 1-for-25 reverse stock split