Psychemedics executes reverse/forward stock split, plans Nasdaq delisting

PSYCHEMEDICS CORP

Stock split effective Dec 3, 2024: 1-for-5,000 reverse split followed by 5,000-for-1 forward split.
Holders of fewer than 5,000 pre-split shares receive $2.35 per share in cash and are cashed out.
Stockholders with 5,000 or more shares see no net change in share count.
Company intends to voluntarily delist from Nasdaq and deregister, filing Form 25 and Form 15.
Expected annual cost savings exceeding $845,000 from delisting and deregistration.

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