Calidi Biotherapeutics has authorized a one-for-ten reverse stock split, effective July 15, 2024. The split will be applied to all outstanding common stock, reducing the total number of shares by a factor of ten.
Under the revised structure, Calidi’s common stock will continue trading under the ticker “CLDI” on the NYSE American. The CUSIP number will change to 320703 309.
The reverse split is part of the company’s efforts to enhance its financial flexibility and market appeal. The reduced number of shares will potentially improve liquidity and increase the stock’s attractiveness to institutional investors.
Stockholders who hold fractional shares following the split will receive a rounded-up whole share. Warrant holders will see proportional adjustments to their exercise prices and the number of underlying shares.
Calidi’s equity incentive plans and employee stock purchase plans will also undergo adjustments aligned with the reverse stock split ratio.
The split will not affect the total number of authorized shares or the par value per share. Calidi has designated Equiniti Trust Company as the exchange agent to facilitate the process.
Stockholders who held shares prior to the split will have their holdings consolidated. For every ten pre-split shares, they will receive one post-split share.
Source link: http://www.businesswire.com/news/home/20240705617561/en/Calidi-to-Effect-Reverse-Stock-Split
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.
