Revelation Biosciences Inc. announced a 1-for-16 reverse stock split of its common stock, effective January 28, 2025. This action follows approval at a Special Meeting of Stockholders held on January 17, 2025. The company's common stock will begin trading on a post-split basis under the existing symbol 'REVB' on the effective date.
The primary purpose of the reverse stock split is to increase the market price per share of the company's common stock. This is intended to regain compliance with the minimum bid continued listing requirement of The Nasdaq Capital Market. Proportionate adjustments will be made to the conversion and exercise prices of the company’s warrants, restricted stock unit awards, and stock options.
The reverse stock split will affect all stockholders uniformly, combining sixteen shares into one. It will not alter any stockholder’s relative interest in the company’s equity, except for fractional shares which will be rounded down to the nearest whole share. This corporate action is a direct response to Nasdaq's listing requirements.
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