Singular Genomics Announces 1-for-30 Reverse Stock Split

Core Viewpoint - Singular Genomics Systems, Inc. will implement a 1-for-30 reverse stock split effective June 26, 2024, to comply with Nasdaq's minimum bid price requirement [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert 30 shares of common stock into one new share, reducing the outstanding shares from approximately 74.7 million to about 2.5 million [4]. - The number of authorized shares will remain at 400 million, and the par value will stay at $0.0001 per share [3]. - No fractional shares will be issued; stockholders entitled to a fractional share will receive an additional fraction to round up to the next whole share [4]. Group 2: Compliance and Approval - The reverse stock split was approved by stockholders at the Annual Meeting on May 29, 2024, with the final ratio determined by the Board of Directors [2]. - The company plans to file an amendment to its certificate of incorporation around June 25, 2024 [3]. Group 3: Company Overview - Singular Genomics is a life science technology company focused on next-generation sequencing and multiomics technologies [7]. - The G4® Sequencing Platform is a key product, designed for fast and accurate genomic sequencing [7]. - The company is also developing the G4X™ Spatial Sequencer for advanced applications in transcriptomics and proteomics [7].