Tenax Therapeutics announces 1-for-80 reverse stock split effective Jan 2, 2024

TENAX THERAPEUTICS, INC.

Reverse split at 1:80 ratio effective 5:00 pm ET on Jan 2, 2024; trading on Nasdaq split-adjusted Jan 3 under TENX.
Pre-split shares: 23,862,434; post-split approximately 298,281 shares outstanding.
No fractional shares issued; odd-lot holders receive one whole share for fractional interests.
Primary purpose: regain compliance with Nasdaq minimum $1.00 bid price requirement (Rule 5550(a)(2)).
Authorized shares unchanged at par value $0.0001; proportional adjustments to 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

TENAX THERAPEUTICS, INC.: Effected a 1-for-80 reverse stock split of common stock via Certificate of Amendment to Certificate of Incorporation (effective 2024-01-02).

Change: charter amendment
Effective: 2024-01-02

Exact text from the filing

Tenax Therapeutics, Inc. (the "Company") filed a Certificate of Amendment to the Company’s Certificate of Incorporation, as amended (the “Certificate of Amendment”) with the Secretary of State of Delaware for the purpose of effecting a reverse stock split of the outstanding shares of the Company’s common stock at a ratio of one share for every 80 shares outstanding (the “Reverse Stock Split”), so that every 80 outstanding shares of common stock before the Reverse Stock Split represents one share of common stock after the Reverse Stock Split.

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Source: SEC EDGAR

accession 0001654954-24-000269

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