Dermata Therapeutics to effect 1:15 reverse stock split on May 16, 2024

Dermata Therapeutics, Inc.

Shareholders authorized reverse split ratio between 1:5 and 1:30; Board selected 1:15 on May 8.
Every 15 existing shares convert to 1 share; no fractional shares, cash paid in lieu.
CUSIP changes to 249845405; trading on Nasdaq on split-adjusted basis expected May 16.
Outstanding options and warrants adjusted proportionally; par value and authorized shares unchanged.

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

Dermata Therapeutics, Inc.: Effected a one-for-fifteen reverse stock split by filing a Certificate of Amendment to the Amended and Restated Certificate of Incorporation (effective 2024-05-16).

Change: charter amendment
Effective: 2024-05-16

Exact text from the filing

On May 14, 2024, Dermata Therapeutics, Inc. (the “Company”) filed a Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware (the “Certificate of Amendment”), which will effect, at 12:01 a.m. Eastern Time, on May 16, 2024, a one-for-fifteen (1:15) reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Common Stock”).

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Source: SEC EDGAR

accession 0001654954-24-006133

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