Pieris Pharmaceuticals announces 1-for-80 reverse stock split to regain Nasdaq compliance

PALVELLA THERAPEUTICS, INC.

Reverse stock split at ratio 1-for-80 effective 5:00 pm ET on April 22, 2024; begins trading split-adjusted on April 23 under symbol PIRS.
Outstanding shares reduced from 98,935,025 to approximately 1,236,688; authorized common shares decreased from 300M to 3.75M.
Split aims to raise bid price above $1.00 per share and meet Nasdaq Listing Rule 5550(a)(2) minimum bid price requirement.
No fractional shares issued; fractional interests rounded up to one whole share. CUSIP changes to 720795202.
All outstanding options, warrants, and preferred stock conversion terms adjusted proportionately per their governing documents.

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

PALVELLA THERAPEUTICS, INC.: Filing of Certificate of Change to effect a 1-for-80 reverse stock split of common stock and adjust authorized shares accordingly (effective 2024-04-22).

Change: charter amendment
Effective: 2024-04-22

Exact text from the filing

The Company effected the Reverse Stock Split pursuant to the Company’s filing of a Certificate of Change (the “Certificate”) with the Nevada Secretary of State on April 18, 2024, in accordance with Nevada Revised Statutes (“ NRS ”) 78.209.

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PALVELLA THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-012442

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