Matinas BioPharma announces 1-for-50 reverse stock split effective Aug 30, 2024

Matinas BioPharma Holdings, Inc.

Board approved 1-for-50 reverse stock split and reduction of authorized shares from 500M to 250M.
Effective at 5:00 PM EST on Aug 30, 2024; split-adjusted trading under symbol MTNB begins Sep 3.
Fractional shares rounded up to nearest whole share; no cash paid for fractions.
Company believes split will help maintain NYSE American listing; may pursue Nasdaq uplisting later.

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