Palisade Bio completes 1-for-15 reverse stock split to meet Nasdaq minimum bid price

PALISADE BIO, INC.

1-for-15 reverse split effective April 5, 2024; shares reduced from 12,771,015 to ~851,401.
Split approved by shareholders on March 25, 2024; trading begins split-adjusted April 8 under PALI.
Primary purpose: increase per-share price to regain compliance with Nasdaq's $1.00 minimum bid requirement.
No fractional shares issued; cash paid in lieu of fractional interests.
Conversion/exercise prices of preferred stock, warrants, and options proportionally adjusted by factor of 15.

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.: Filed amendment to certificate of incorporation to effect a 1-for-15 reverse stock split, effective April 5, 2024 (effective 2024-04-05).

Change: charter amendment
Effective: 2024-04-05

Exact text from the filing

On April 2, 2024, the Company filed an amendment to its amended and restated certificate of incorporation, as amended (the "Amendment") with the Secretary of State of Delaware with such Amendment becoming effective at 5:00 p.m. Eastern Time on Friday, April 5, 2024.

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PALISADE BIO, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-013336

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