SYN - Synthetic Biologics stock slides on reverse stock split announcement

• Synthetic Biologics ( NYSE: SYN ) shares dropped around 14% pre-market after the therapeutics company announced plans for a reverse stock split of its issued and outstanding common stock.
• Effective July 25, 2022, each ten (10) pre-split shares of common stock outstanding will automatically combine into one (1) new share of common stock without any action on the part of the holders. The move will enable the company to meet the per share price requirements of the NYSE American.
• No fractional shares will be issued as a result of the reverse stock split. The number of outstanding common shares will be reduced from 158,437,840 shares to 15,843,784 shares.
• The common stock will begin trading on a split-adjusted basis when the market opens on July 25, 2022, under the same ticker "SYN".

For further details see: