- Clinical-stage company 9 Meters Biopharma ( NASDAQ: NMTR ) is set to execute a 1-for-20 reverse stock split, effective Oct. 17 5:00 p.m. ET.
- The company will begin trading on a split-adjusted basis from Oct. 18 under the existing ticker symbol NMTR.
- The move, which reduces the number of issued and outstanding common shares from 259,107,380 to ~12,955,369, is likely to bring the company into compliance with Nasdaq's minimum bid price requirement.
- The reverse stock split was previously approved by the company's shareholders at the Jun. 22 annual meeting.
- The split is not expected to alter any stockholder's percentage interest in the company's equity.
- NMTR shares were trading -4.53% pre-market.
- Source: Press Release
For further details see:
9 Meters Biopharma to execute 1-for-20 reverse stock split