Bluejay Diagnostics Announces Reverse Stock Split

Core Viewpoint - Bluejay Diagnostics, Inc. has announced a reverse stock split of its common stock at a ratio of 1-for-8, effective June 20, 2024, to improve its stock price and market perception [3][6]. Company Overview - Bluejay Diagnostics, Inc. is a medical technology company focused on developing rapid diagnostics through its Symphony platform, aimed at enhancing patient outcomes in critical care settings [3][5]. - The company's first product candidate is an IL-6 Test for sepsis triage, designed to deliver accurate results in approximately 20 minutes, facilitating timely medical decisions [5]. Reverse Stock Split Details - The reverse stock split will consolidate every eight shares of common stock into one share, reducing the total outstanding shares from approximately 4,511,756 to about 563,969 [6]. - The par value of the shares will remain unchanged at $0.0001 per share, and no fractional shares will be issued; instead, cash payments will be provided for any fractional shares [6]. - The reverse stock split will not affect stockholders' percentage interest in the company, except for adjustments related to fractional shares [6]. Stockholder Instructions - The company has appointed Continental Stock Transfer & Trust Company as the exchange agent for the reverse stock split, providing instructions to stockholders with certificate shares [4]. - Stockholders holding shares in book-entry form or brokerage accounts will see the effects of the reverse stock split reflected automatically in their accounts [4].