NeuBase Therapeutics to effect 1-for-20 reverse stock split to regain Nasdaq compliance

NeuBase Therapeutics, Inc.

Reverse stock split at 1-for-20 effective 5:00 p.m. ET June 14, 2023; trading begins June 15 under symbol NBSE.
Split intended to regain $1.00 minimum bid price for continued Nasdaq listing.
Outstanding shares reduced from ~33.8 million to ~1.7 million.
No fractional shares; cash paid in lieu based on June 13 closing price.
Board approved ratio June 9, 2023; stockholder authorization received Sept 8, 2022.

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

NeuBase Therapeutics, Inc.: Filed Certificate of Amendment to effect 1-for-20 reverse stock split (effective 2023-06-14).

Change: charter amendment
Effective: 2023-06-14

Exact text from the filing

On June 14, 2023, NeuBase Therapeutics, Inc. (the “Company”) filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split of the Company’s shares of common stock (the “Reverse Stock Split”).

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Source: SEC EDGAR

accession 0001558370-23-011079

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