Science 37 implements 1-for-20 reverse stock split effective Dec 8, 2023 to meet Nasdaq $1 bid price

Science 37 Holdings, Inc.

Reverse split reduces outstanding shares from ~119M to ~6M; new CUSIP 808644207.
Split effective Dec 8, 2023 at 12:01 a.m. ET; trading on Nasdaq under SNCE begins split-adjusted.
Stockholders authorized split at Nov 29 special meeting; board approved 1-for-20 ratio.
No fractional shares; fractional shares rounded up to full share; no change to authorized shares or par value.
Company warns no guarantee of regaining compliance with $1 minimum bid price requirement.

item 3.03 item 5.03 item 7.01 item 8.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Science 37 Holdings, Inc.: Filed a Certificate of Amendment to effect a 1-for-20 reverse stock split of common stock (effective 2023-12-08).

Change: charter amendment
Effective: 2023-12-08

Exact text from the filing

On December 4, 2023, Science 37 Holdings, Inc. (the “Company”) filed a Certificate of Amendment (the “Amendment”) to its Second Amended and Restated Certificate of Incorporation (as amended to date, the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware to effect a one-for-twenty (1-for-20) reverse stock split (the “Reverse Stock Split”) of its outstanding common stock, par value $0.0001 per share (the “Common Stock”).

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Source: SEC EDGAR

accession 0001819113-23-000089

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