Tivic Health implements 1-for-100 reverse stock split to avoid Nasdaq delisting

Valion Bio, Inc.

1-for-100 reverse stock split effective Aug 23, 2023; par value unchanged.
Nasdaq had determined to delist TIVC due to bid price ≤ $0.10 for 10 days; appeal hearing set Sep 21, 2023.
Company expects reverse split to bring bid price above $1.00 and regain compliance.
No fractional shares issued; fractional shares rounded up; percentage ownership unchanged.
Warrants, options, and equity awards proportionally adjusted; CUSIP changes to 888705 209.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Valion Bio, Inc.: Board approved a 1-for-100 reverse stock split of common stock, effective August 23, 2023, to regain compliance with Nasdaq minimum bid price requirement (effective 2023-08-23).

Change: charter amendment
Effective: 2023-08-23

Exact text from the filing

The Board of Directors of Tivic Health Systems, Inc., a Delaware corporation (the "Company"), has approved a reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.0001 per share ("Common Stock"), at a ratio of 1-for-100 (the "Reverse Split").

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Valion Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-043808

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