Kiromic BioPharma effects 1-for-30 reverse stock split to regain Nasdaq compliance

Kiromic Biopharma, Inc.

Reverse split at 1-for-30 effective March 10, 2023 at 4:01 pm ET; trading on split-adjusted basis March 13.
Post-split shares outstanding approximately 966,758; fractional shares rounded up to whole share.
Trading symbol KRBP unchanged; new CUSIP number 497634204.
Split approved by stockholders on March 7, 2023; board set ratio at 1-for-30.
Primary purpose: meet Nasdaq minimum bid price requirement for continued listing.

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

Kiromic Biopharma, Inc.: Amended certificate of incorporation to effect a 1-for-30 reverse stock split, effective 4:01 p.m. ET on March 10, 2023 (effective 2023-03-10).

Change: charter amendment
Effective: 2023-03-10

Exact text from the filing

On March 10, 2023, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment to its certificate of incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split.

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Source: SEC EDGAR

accession 0001104659-23-031201

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