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Onconetix, Inc. Announces 1-for-85 Reverse Stock Split and Results of the Special Meeting of Stockholders
Globenewswire· 2025-06-11 15:30
Core Viewpoint - Onconetix, Inc. has announced a reverse stock split of 1-for-85 shares, approved by stockholders, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, effective June 13, 2025 [1][3][5] Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 44.4 million to about 521,863 [5] - The split will be executed automatically, converting every 85 shares into one share without changing the par value, and no fractional shares will be issued [4] - Fractional shares will be compensated in cash based on the closing price on June 12, 2025 [4] Group 2: Company Overview - Onconetix, Inc. is a commercial-stage biotechnology company focused on men's health and oncology, owning products like Proclarix and ENTADFI [6] - Proclarix is an in vitro diagnostic test for prostate cancer, while ENTADFI is an FDA-approved treatment for benign prostatic hyperplasia [6]
Artelo Biosciences Announces Reverse Stock Split
Globenewswire· 2025-06-11 12:30
Core Viewpoint - Artelo Biosciences, Inc. has announced a 6-for-1 reverse stock split to increase the price per share to meet Nasdaq's minimum listing requirement of $1.00 per share, effective June 13, 2025 [1][2]. Company Overview - Artelo Biosciences, Inc. is a clinical-stage pharmaceutical company focused on developing treatments that modulate lipid-signaling pathways for various conditions including cancer, pain, and dermatological issues [3]. - The company is advancing a portfolio of product candidates aimed at addressing significant unmet medical needs across multiple diseases [3]. Reverse Stock Split Details - The reverse stock split will automatically convert every six shares of the company's common stock into one share, maintaining shareholders' pro-rata ownership [2]. - Post-split, approximately 546,667 shares of common stock will be issued and outstanding [2].
Tilray Brands' Stockholders Approve Reverse Stock Split; Company Pauses Implementation as It Evaluates Timing and Stock Price
Globenewswire· 2025-06-10 20:05
Core Viewpoint - Tilray Brands, Inc. announced the approval of a reverse stock split at a ratio of 1-to-10 to 1-to-20, but has paused its implementation to evaluate timing and stock price [1][2]. Financial Structure - In the fiscal quarter ended February 28, 2025, Tilray reduced its total debt by approximately $76 million, resulting in a net debt to trailing twelve-months Adjusted EBITDA of less than 1.0x [3]. - As of the last fiscal quarter, Tilray's cash and marketable securities balance was approximately $250 million, providing financial strength and flexibility for strategic opportunities and acquisitions [3]. Strategic Objectives of Reverse Stock Split - The reverse stock split aims to ensure compliance with Nasdaq listing requirements, align the number of shares with similar companies, attract institutional shareholders, and potentially save up to $1 million annually in costs associated with stockholder meetings [7].
Opendoor Announces Preliminary Proxy Filing Seeking Approval for Discretionary Reverse Stock Split
Globenewswire· 2025-06-06 20:10
Core Viewpoint - Opendoor Technologies Inc. is seeking shareholder approval for a reverse stock split to support long-term shareholder value and maintain its Nasdaq listing [2][3]. Group 1: Company Actions - The Board of Directors has proposed a reverse stock split of common stock at a ratio between 1-for-10 and 1-for-50, with the exact ratio to be determined by the Board [2]. - The decision to implement the reverse stock split will depend on various factors, including market conditions and the trading price of the common stock [3]. Group 2: Company Background - Opendoor is a leading e-commerce platform for residential real estate transactions, aiming to provide a simple and certain way for people to buy and sell homes [5]. - The company has been operational since 2014 and currently serves markets across the United States [5]. Group 3: Upcoming Events - A Special Meeting of Stockholders is scheduled for July 28, 2025, at 9:30 a.m. Pacific Time to discuss the proposed amendments [1][4].
Effect of Altisource 1-for-8 Share Consolidation on Publicly Traded Warrants
GlobeNewswire News Room· 2025-06-03 20:11
Core Viewpoint - Altisource Portfolio Solutions S.A. has implemented a reverse stock split at a ratio of 1-for-8, affecting its publicly traded warrants and the trading of its common stock on Nasdaq [1][3]. Share Consolidation Impact - The Share Consolidation became effective on May 28, 2025, with Altisource's common stock trading on a Share Consolidation-adjusted basis from that date [1]. - The Warrant Exercise Rate has decreased from 1.625 to 0.20313, while the Implied Per Share Exercise Price has increased from $1.20 to $9.5998 [3]. Warrant Details - Two types of warrants have been issued: Cash Exercise Stakeholder Warrants and Net Settle Stakeholder Warrants, trading under tickers ASPSZ and ASPSW respectively [2]. - The exercise of warrants can begin on July 2, 2025, or when the VWAP of the Common Stock meets or exceeds the new Implied Per Share Exercise Price of $9.5998 for fifteen consecutive trading days [4]. - Fractional shares will not be issued upon exercise; holders must aggregate their warrants to receive whole shares, requiring at least five warrants to obtain one share due to the reduced Warrant Exercise Rate [4]. Company Overview - Altisource Portfolio Solutions S.A. is a provider and marketplace for the real estate and mortgage industries, offering innovative services and technologies to meet market demands [6].
Mullen Automotive Inc. Announces Reverse Stock Split Effective June 2, 2025
Globenewswire· 2025-05-29 13:00
Core Points - Mullen Automotive Inc. will implement a 1-for-100 reverse stock split effective June 2, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 [1][2][3] - The reverse stock split will reduce the number of outstanding shares from approximately 80 million to about 800 thousand shares [5] - The reverse stock split will not change the par value of the common stock or the authorized number of shares [4] Company Overview - Mullen Automotive is an electric vehicle manufacturer based in Southern California, with two production plants located in Tunica, Mississippi, and Mishawaka, Indiana [7] - The company began commercial vehicle production in August 2023 and has certified models available for sale in the U.S. as of January 2024 [7] - Mullen Automotive acquired Bollinger Motors in September 2022, which has launched its Class 4 electric truck production [8]
Vaxart's Founder and Chief Scientific Officer Provides Video Update to Stockholders
GlobeNewswire News Room· 2025-05-29 12:00
Core Viewpoint - Vaxart, Inc. is urging stockholders to vote in favor of a reverse stock split proposal to regain compliance with Nasdaq's minimum bid price rule by the deadline of June 1, 2025 [1][2] Group 1: Reverse Stock Split Proposal - Dr. Sean Tucker, Founder and CSO of Vaxart, emphasizes the importance of voting FOR Proposal No. 2, which would allow the Board of Directors to implement a reverse stock split [1] - The company has provided a fact sheet to clarify misconceptions regarding the reverse stock split proposal [2] - Stockholders who have not yet voted are encouraged to do so by the deadline, and those who previously voted against the proposal can change their vote [2] Group 2: Company Overview - Vaxart is a clinical-stage biotechnology company focused on developing oral recombinant vaccines using a proprietary delivery platform [4] - The company's vaccines are designed to be administered in pill form, which can be stored and shipped without refrigeration, thus eliminating the risk of needle-stick injury [4] - Current development programs include vaccines for coronavirus, norovirus, influenza, and a therapeutic vaccine for human papillomavirus (HPV) [4]
Houston American Energy Corp. Announces 1-for-10 Reverse Stock Split
Globenewswire· 2025-05-28 21:20
Core Viewpoint - Houston American Energy Corp. has announced a reverse stock split at a ratio of 1-for-10 to increase the market price per share and meet NYSE listing requirements related to its acquisition of Abundia Global Impact Group, LLC [1][2][7] Group 1: Reverse Stock Split Details - The reverse stock split will be effective after market close on June 6, 2025, with trading on a split-adjusted basis starting June 9, 2025 [2] - The number of issued and outstanding shares will decrease from approximately 15,686,533 to about 1,568,653 shares [3] - Each stockholder's percentage ownership will remain unchanged, and no fractional shares will be issued [4] Group 2: Company Information - Houston American Energy Corp. is focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties, primarily in the U.S. Permian Basin and Louisiana U.S. Gulf Coast region [7] - The trading symbol for the common stock will remain "HUSA," and a new CUSIP number will be assigned following the reverse stock split [5]
Oragenics, Inc. Announces One-for-Thirty Reverse Stock Split
Globenewswire· 2025-05-28 11:00
Core Viewpoint - Oragenics, Inc. has announced a One-for-Thirty reverse stock split to enhance its capital market presence and align with long-term investors' expectations [1][4]. Group 1: Reverse Stock Split Details - The reverse stock split will combine every 30 pre-split shares into one new share, effective at 12:01 a.m. Eastern Time on June 3, 2025 [2][3]. - Fractional shares resulting from the split will be rounded up to the nearest whole share for each shareholder [2]. - The split will not affect the par value of the common stock or the number of authorized but unissued shares [2][3]. Group 2: Company Strategy and Leadership Comments - The CEO, Ms. Janet Huffman, emphasized that the reverse split is aimed at strengthening the company's capital markets presence and attracting quality-focused investors [4]. - The company believes that increasing the share price and reducing share count will better align with investor expectations [4]. Group 3: Company Overview - Oragenics is a clinical-stage biotechnology company focused on developing innovative treatments for neurological disorders, with its lead asset being ONP-002, an intranasal therapy for concussion treatment [5].
Taoping Announces 1-for-30 Reverse Stock Split
Prnewswire· 2025-05-27 12:30
Company Overview - Taoping Inc. is a provider of innovative smart cloud platform services and solutions, focusing on technology to enhance communication and marketing for both private and public sectors [4]. Reverse Stock Split Announcement - The board of directors approved a one-for-thirty reverse stock split of the Company's issued and outstanding ordinary shares, effective May 29, 2025 [1]. - Each thirty ordinary shares will automatically combine into one issued and outstanding ordinary share without requiring action from shareholders [2]. Purpose of the Reverse Stock Split - The reverse stock split aims to increase the per share trading price to meet the $1.00 minimum bid price requirement for continued listing on the Nasdaq Stock Market [3]. - Post-split, the Company will have approximately 0.89 million ordinary shares issued and outstanding, excluding shares from options and convertible notes [3].