Seelos Therapeutics announces 1-for-8 reverse stock split to regain Nasdaq compliance

SEELOS THERAPEUTICS, INC.

Reverse stock split at 1-for-8 ratio, effective May 16, 2024, at 12:01 a.m. ET.
Authorized shares reduced from 400M to 50M; par value unchanged at $0.001.
No fractional shares; fractions rounded up to nearest whole share.
Purpose: meet Nasdaq $1.00 minimum bid price requirement; symbol remains SEEL.
Outstanding warrants and stock options proportionately adjusted; equity plan shares reduced.

Key facts

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

SEELOS THERAPEUTICS, INC.: Filed Certificate of Change to effect a 1-for-8 reverse stock split and decrease authorized shares from 400,000,000 to 50,000,000 (effective 2024-05-16).

Change: charter amendment
Effective: 2024-05-16

Exact text from the filing

On May 15, 2024, Seelos Therapeutics, Inc. (the “Company”) filed a Certificate of Change (the “Certificate of Change”) with the Secretary of State of the State of Nevada to (i) effect a 1-for-8 reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “Common Stock”), and (ii) decrease the number of total authorized shares of Common Stock from 400,000,000 shares to 50,000,000 shares.

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Source: SEC EDGAR

accession 0001104659-24-062321

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