Citius Pharmaceuticals effects 1-for-25 reverse stock split to regain Nasdaq bid price compliance

Citius Pharmaceuticals, Inc.

Reverse split at 1-for-25 ratio effective Nov 25, 2024; split-adjusted trading begins Nov 26.
Authorized shares reduced from 400M to 16M; issued shares from ~193M to ~7.7M.
No fractional shares issued; fractional interests rounded up to nearest whole share.
Intended to regain compliance with Nasdaq minimum $1.00 bid price requirement.
Trading symbol remains CTXR; new CUSIP 17322U306.

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

Citius Pharmaceuticals, Inc.: Effected a 1-for-25 reverse stock split of common stock and decreased authorized shares from 400,000,000 to 16,000,000 (effective 2024-11-25).

Change: charter amendment
Effective: 2024-11-25

Exact text from the filing

Citius Pharmaceuticals, 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-25 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 16,000,000 shares. The Reverse Stock Split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market. The Reverse Stock Split became effective at 5:00 p.m., Eastern Time, on November 25, 2024

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Citius Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-102833

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