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Atara Biotherapeutics Announces 1-for-25 Reverse Stock Split
THOUSAND OAKS, Calif.--(BUSINESS WIRE)-- Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic
About this update from Atara Biotherapeutics, Inc.
[{"type":"text","content":" THOUSAND OAKS, Calif.--(BUSINESS WIRE)--\nAtara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic Epstein-Barr virus (EBV) T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25 (the \"Reverse Stock Split\"). The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time, on June 20, 2024 (the “Effective Time”). The Company's common stock will begin trading on a post-split basis at the market open on June 20, 2024. The Reverse Stock Split is part of the Company's plan to regain compliance with the minimum bid price requirement of $1.00 per share required to maintain continued listing on The Nasdaq Global Select Market, among other benefits.\n\n\nThe Reverse Stock Split was approved by the Company's stockholders at the Company's Annual Meeting of Stockholders held on June 10, 2024 (the \"Annual Meeting\") to be effected at the Board's discretion within approved parameters. Following the Annual Meeting, the final ratio was approved by the Company's Board on June 10, 2024.\n\n\nThe Reverse Stock Split reduces the number of shares of the Company's outstanding common stock from 122,606,575 shares to 4,904,263 shares, subject to adjustment due to the payment of cash in lieu of fractional shares. This does not include the Company’s outstanding 32,153,085 pre-split (1,286,123 post-split, subject to adjustment due to payment of cash in lieu of fractional warrants) pre-funded common stock warrants as of the Effective Time. As a result of the Reverse Stock Split, proportionate adjustments will be made to the number of shares of the Company's common stock underlying the Company's outstanding equity awards and the number of shares issuable under the Company's equity incentive plans and other existing agreements, as well as the exercise or conversion price, as applicable. There will be no change to the number of authorized shares or the par value per share.\n\n\nInformation for ATRA Stockholders\n\n\nAs a result of the reverse stock split, every 25 pre-split shares of common stock outstanding will become one share of common stock. The Company's transfer agent, Computershare Trust Company, N.A., will serve as th...