Assembly Biosciences announces 1-for-12 reverse stock split effective Feb 9, 2024 to regain Nasdaq compliance

ASSEMBLY BIOSCIENCES, INC.

Reverse stock split at 1-for-12 ratio effective Feb 9, 2024; trading begins split-adjusted Feb 12 under same symbol ASMB.
Shares outstanding reduced from ~65.8M to ~5.5M; fractional shares paid in cash based on Feb 8 closing price.
Primary purpose is to meet Nasdaq minimum bid price requirement for continued listing.
Stockholders approved reverse split range at Jan 31 special meeting; Board selected 1-for-12 ratio on Jan 31.
New CUSIP 045396207; Equiniti Trust Company acts as exchange agent; proportionate adjustments to equity awards.

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

ASSEMBLY BIOSCIENCES, INC.: Filed an amendment to the Sixth Amended and Restated Certificate of Incorporation to effect a 1-for-12 reverse stock split (effective 2024-02-09).

Change: charter amendment
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024, Assembly Biosciences, Inc. (the "Company"), filed an amendment (the "Amendment") to its Sixth Amended and Restated Certificate of Incorporation (the "Charter") with the Secretary of State of the State of Delaware to effect a 1-for-12 reverse stock split (the "Reverse Stock Split") of the Company's common stock, par value $0.001 (the "Common Stock"). The Amendment became effective on February 9, 2024.

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ASSEMBLY BIOSCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-014534

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