Matinas BioPharma effects 1:50 reverse stock split; trading halted on NYSE American, risk of delisting

Matinas BioPharma Holdings, Inc.

Effective Aug 30, 2024, Matinas executed a 1:50 reverse stock split and reduced authorized shares from 500M to 250M.
Trading of MTNB halted on NYSE American on Aug 27 due to low price; expects to resume split-adjusted on Sep 3 subject to exchange approval.
If post-split share price fails to meet NYSE American requirements, exchange could suspend trading or delist the stock.
No fractional shares issued; stockholders with fractional entitlements were rounded up to the next whole share.
Reverse split approved by stockholders on Nov 1, 2023; Board authorized filing on Aug 20, 2024.

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