Agile Therapeutics announces 1-for-50 reverse stock split to regain Nasdaq compliance

AGILE THERAPEUTICS INC

Reverse split effective 4:00 PM ET April 10, 2023; trading begins split-adjusted April 11 under symbol AGRX.
Shares outstanding reduced from ~46.6M to ~932,101; no fractional shares, cash in lieu.
Split intended to raise bid price to meet Nasdaq minimum bid price listing requirement.
CUSIP changes to 00847L308; Broadridge acts as exchange agent for the split.
Proportional adjustments to exercise prices and share counts of outstanding stock options and warrants.

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

AGILE THERAPEUTICS INC: Filed Amendment to Certificate of Incorporation to effect a 1-for-50 reverse stock split (effective 2023-04-10).

Change: charter amendment
Effective: 2023-04-10

Exact text from the filing

On April 10, 2023, the Company filed the Amendment to effect the Reverse Stock Split with the Secretary of State of the State of Delaware, and the Reverse Stock Split will become effective in accordance with the terms of the Amendment at 4:00 PM Eastern Time on April 10, 2023 (the “Effective Time”).

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Source: SEC EDGAR

accession 0001558370-23-005697

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