Hepion Pharmaceuticals effects 1-for-20 reverse stock split to regain Nasdaq compliance

Hepion Pharmaceuticals, Inc.

Reverse split ratio 1-for-20 effective 4:01pm ET May 10, 2023; split-adjusted trading begins May 11 under same symbol HEPA.
Post-split shares outstanding ~3.81M; CUSIP changed to 426897302.
Primary purpose is to meet Nasdaq minimum bid price requirement for continued listing.
Proportionate adjustments to equity awards and warrants; fractional shares rounded up to next whole share.
CEO states split comes ahead of expected Phase 2 ALTITUDE-NASH biomarker results for rencofilstat.

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 0.99

Hepion Pharmaceuticals, Inc.: Company filed a Certificate of Amendment to effect a 1-for-20 reverse stock split of common stock, effective 4:01 p.m. ET on May 10, 2023, as previously approved by stockholders and board (effective 2023-05-10).

Change: charter amendment
Effective: 2023-05-10

Exact text from the filing

On May 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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Hepion Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-058529

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