LadRx to effect 1-for-100 reverse stock split on May 17, 2023 to support strategic review

LadRx Corp

Reverse split ratio 1-for-100, effective 5:00 a.m. PDT on May 17, 2023; trading begins split-adjusted May 18.
Outstanding shares reduced from 46,587,391 to approximately 465,587; no change in authorized shares (62,393,940).
Fractional shares rounded up to next whole share; no fractional shares issued.
New CUSIP number 232828608; trading symbol LADX unchanged on OTC Markets.
Split intended to facilitate strategic alternatives including possible up-listing to Nasdaq.

item 3.03 item 5.03 item 7.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

LadRx Corp: Filed Certificate of Amendment to effect 1-for-100 reverse stock split (effective 2023-05-17).

Change: charter amendment
Effective: 2023-05-17

Exact text from the filing

On May 9, 2023, LadRx Corporation (the “Company”) filed a Certificate of Amendment of Restated Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of Delaware to effect a 1-for-100 reverse stock split of the shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), either issued and outstanding or held by the Company as treasury stock, effective as of 5:00 a.m. (Pacific time) on May 17, 2023 (the “Reverse Stock Split”).

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Source: SEC EDGAR

accession 0001493152-23-016244

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