Protagenic Therapeutics announces 1-for-4 reverse stock split to comply with Nasdaq minimum bid price rule

Protagenic Therapeutics, Inc.new

Reverse split effective 5:01 p.m. ET March 22, 2023; split-adjusted trading Nasdaq opens March 23, 2023.
Goal: meet Nasdaq Rule 5550(a)(2) $1.00 minimum closing price for continued listing.
Outstanding shares reduced from ~17,285,261 to ~4,321,315; no fractional shares—rounded up to next whole.
Proportionate adjustments to exercise prices and shares underlying outstanding options, warrants, and equity awards.
Authorized shares and par value unchanged; new CUSIP 74365N202; ticker remains PTIX.

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

Protagenic Therapeutics, Inc.new: Approved and filed a Certificate of Amendment to effect a 1-for-4 reverse stock split of common stock to comply with Nasdaq Rule 5550(a)(2) (effective 2023-03-22).

Change: charter amendment
Effective: 2023-03-22

Exact text from the filing

On March 21, 2023, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment to its third amended and restated certificate of incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split.

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Protagenic Therapeutics, Inc.new filing history →

Source: SEC EDGAR

accession 0001493152-23-008494

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