GT Biopharma announces 1-for-30 reverse stock split to regain Nasdaq compliance

GT Biopharma, Inc.

Reverse split ratio 1:30 effective 5:00 PM ET Feb 2, 2024; post-split trading begins Feb 5.
Outstanding shares reduced from ~41.4M to ~1.38M; authorized shares unchanged at 250M.
No fractional shares issued; stockholders receive cash for fractional shares.
Proportionate adjustments to outstanding stock options and equity awards.
Action intended to regain Nasdaq $1.00 minimum bid price; ticker remains GTBP.

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

GT Biopharma, Inc.: Filed Certificate of Amendment to effect a 1-for-30 reverse stock split of common stock, effective February 2, 2024, with reduced outstanding shares and unchanged authorized shares (effective 2024-02-02).

Change: charter amendment
Effective: 2024-02-02

Exact text from the filing

On February 1, 2024, GT Biopharma, Inc. filed a Certificate of Amendment of our Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of our common stock, par value $0.001 per share, at a ratio of 1-for-30.

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GT Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-004587

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