NeuBase Therapeutics to undertake 1-for-20 reverse share split
NeuBase Therapeutics (NASDAQ:NBSE) said Wednesday that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-20 to regain compliance with Nasdaq's listing rule.
The stock split will be effective as of 5:00 p.m. ET on June 14, 2023.
The reverse stock split will not change the authorized number of shares of the company’s common stock.
The reverse stock split will reduce the number of issued and outstanding shares of the company to about 1.7 million from 33.8 million.
Shares -16.6% at 15 cents premarket.