- Salarius Pharmaceuticals ( NASDAQ: SLRX ) will effect a 1-for-25 reverse stock split at 5:00 p.m. time today.
- The reverse stock split is intended to enable the company to regain Nasdaq compliance with the $1.00 minimum closing bid price requirement.
- At the effective time of the reverse stock split the number of shares of common stock issued and outstanding will be reduced from ~56,236,000 shares to ~2,249,000.
- All outstanding options and warrants entitling their holders to purchase shares of the company’s common stock will be adjusted as a result of the reverse split, as required by the terms of each security.
- The reverse stock split will not reduce the number of authorized shares of common stock or preferred stock or change the par values of the company’s common stock (which will remain at $0.0001 per share) or preferred stock (which will remain at $0.0001 per share).
- Shares down 2.48% premarket.
For further details see:
Salarius pharmaceuticals announces 1-for-25 reverse stock split