BioCardia Announces Reverse Stock Split

Core Viewpoint - BioCardia, Inc. plans to implement a reverse stock split at a ratio of 1 post-split share for every 15 pre-split shares, effective May 30, 2024, to meet Nasdaq's minimum bid price requirement [1]. Group 1: Reverse Stock Split Details - The reverse stock split will automatically convert every 15 shares of common stock into one share, with no action required from stockholders holding shares electronically [2]. - Stockholders with physical stock certificates will receive instructions for exchanging their certificates for post-split shares or cash payments for fractional shares [3]. - The reverse stock split will not change stockholders' percentage interest in the company's equity, except for those receiving cash for fractional shares [3]. Group 2: Adjustments and Authorizations - Proportional adjustments will be made to the number of shares issuable upon exercise or conversion of equity awards and warrants, as well as the applicable exercise or conversion price [4]. - The authorized shares of common stock will be reduced from 100 million to 50 million, while the par value per share and the number of authorized shares of preferred stock will remain unchanged [4]. Group 3: Company Overview - BioCardia, Inc. is focused on developing cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases, with platforms like CardiAMP and CardiALLO for heart disease treatment [6].