Palisade Bio effects 1-for-50 reverse stock split to meet Nasdaq minimum bid price

PALISADE BIO, INC.

Reverse split effective 5:00 p.m. ET Nov 15, 2022; common stock trades on split-adjusted basis from Nov 16 under same ticker PALI.
Outstanding shares reduced from ~77.08M to ~1.54M; authorized shares decreased from 300M to 280M.
Split intended to raise per-share price above $1 to regain compliance with Nasdaq minimum bid-price listing requirement.
No fractional shares issued; cash paid in lieu based on Nov 15 closing price.
Conversion price of Series A Convertible Preferred Stock proportionately adjusted following the reverse split.

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

PALISADE BIO, INC.: Amendment to certificate of incorporation to effect a 1-for-50 reverse stock split and reduce authorized shares of common stock from 300,000,000 to 280,000,000 (effective 2022-11-15).

Change: charter amendment
Effective: 2022-11-15

Exact text from the filing

On November 14, 2022, the Company filed an amendment to its amended and restated certificate of incorporation (“Amendment”) with the Secretary of State of Delaware with such Amendment becoming effective at 5:00 p.m. Eastern Time on Tuesday November 15, 2022. The purpose of the Amendment is to (i) effect the Reverse Stock Split and (ii) complete the Authorized Share Reduction.

View on SEC.gov

89 governance changes filed in the last 30 days. Browse all governance changes →

PALISADE BIO, INC. filing history →

Source: SEC EDGAR

accession 0001493152-22-032591

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.