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Exicure, Inc. Announces 1-for-5 Reverse Stock Split
CHICAGO--(BUSINESS WIRE)-- Exicure, Inc. (Nasdaq: XCUR, “the Company”) today announced that it will effect a 1-for-5 reverse stock split of its outstanding
About this update from Exicure, Inc.
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nExicure, Inc. (Nasdaq: XCUR, “the Company”) today announced that it will effect a 1-for-5 reverse stock split of its outstanding shares of common stock (the “Reverse Stock Split”). The Company expects that the Reverse Stock Split will become effective at 5:00 pm on Tuesday, August 27, 2024, and its common stock will begin trading on a split-adjusted basis at the open of trading on Wednesday, August 28, 2024 under the new CUSIP number 30205M 309. Exicure’s common stock will continue to trade on the NASDAQ Capital Market under the symbol “XCUR”. The Reverse Stock Split is an effort to regain compliance with Nasdaq’s listing rules.\n\n\nThe Reverse Stock Split was approved by the Company’s stockholders at its Special Meeting of Stockholders held on August 20, 2024, to be effected by the Company’s Board of Directors within approved parameters. The Company’s Board of Directors approved the Reverse Stock Split at a ratio of 1-for-5 on August 20, 2024.\n\n\nAs a result of the Reverse Stock Split, each 5 shares of the Company’s issued and outstanding common stock will be automatically combined and converted into 1 issued and outstanding share of common stock, resulting in the number of outstanding shares of Exicure’s common stock being reduced from approximately 8.65 million to approximately 1.73 million immediately following the effectiveness of the Reverse Stock Split. The Reverse Stock Split will affect all holders of shares of our common stock uniformly and each stockholder will hold the same percentage of our common stock outstanding immediately following the reverse stock split as that stockholder held immediately prior to the reverse stock split, except for adjustments that may result from the treatment of fractional shares as described below. The Reverse Stock Split will not affect the number of authorized shares of common stock or the par value of the common stock.\n\n\nStockholders holding their shares in book-entry form will not need to take any action in connection with the Reverse Stock Split. Stockholders will not receive fractional shares of common stock in connection with the Reverse Stock Split. Instead, stockholders who would have been entitled to a fractional share will receive such additional fraction of a share of common stock as is necessary to increase the fractional share to which the...