Processa Pharmaceuticals to effect 1-for-20 reverse stock split to regain Nasdaq compliance

Processa Pharmaceuticals, Inc.

Reverse split ratio 1-for-20, effective 12:01 a.m. ET Jan. 22, 2024.
Outstanding shares reduce from ~24.6M to ~1.2M.
No fractional shares; rounding up to nearest whole share.
Intended to regain compliance with Nasdaq $1 minimum bid price.
Stock continues trading under symbol PCSA with new CUSIP 74275C304.

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

Processa Pharmaceuticals, Inc.: Certificate of Amendment to Fourth Amended and Restated Certificate of Incorporation to effect a 1-for-20 reverse stock split (effective 2024-01-22).

Change: charter amendment
Effective: 2024-01-22

Exact text from the filing

On January 18, 2024, Processa Pharmaceuticals, Inc. (the “Company”) filed with the Secretary of State of the State of Delaware a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Fourth Amended and Restated Certificate of Incorporation to effect a 1-for-20 reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Common Stock”), effective as of 12:01 a.m. Eastern Time on January 22, 2024.

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

Processa Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-002835

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