Scilex Holding Company announced it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-35, effective 12:01 a.m. Eastern Time on April 15, 2025.
The primary purpose of the reverse stock split is to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market.
The reverse stock split will reduce the number of issued and outstanding shares of Scilex's common stock from approximately 243 million to approximately 6.9 million. Stockholders approved this action at a special meeting on March 19, 2025.
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