secwatch.observer — SEC 8-K summary
======================================

Issuer:     RIGEL PHARMACEUTICALS INC (RIGL)
CIK:        0001034842
Form:       8-K
Filed at:   2024-06-25T23:59:59+00:00
Accession:  0001104659-24-074574
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rigel Pharmaceuticals announces 1-for-10 reverse stock split effective June 27, 2024
--------------------------------------------------------------------------------

- Reverse stock split at 1-for-10 ratio, reducing shares from ~175.6M to ~17.6M.
- Effective June 27, 2024 at 12:01 a.m. ET; trading begins on split-adjusted basis same day.
- Board approved final ratio on June 15, 2024, following stockholder approval on May 24, 2024.
- Primary goal: raise per-share price to improve marketability and maintain Nasdaq $1 minimum bid compliance.
- No fractional shares; cash in lieu paid. Authorized shares and par value unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1034842/000110465924074574/0001104659-24-074574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1034842/000110465924074574/tm2417992d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-074574

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer