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LIXTE Biotechnology Holdings, Inc. Announces 1-for-10 Reverse Stock Split of its Common Stock Effective on Pre-Market Opening on June 5, 2023
PASADENA, CA, June 02, 2023 (GLOBE NEWSWIRE) -- LIXTE Biotechnology Holdings, Inc. (“LIXTE” or the “Company”) (Nasdaq: LIXT) announced today that it will
About this update from Lixte Biotechnology Holdings, Inc.
[{"type":"text","content":"PASADENA, CA, June 02, 2023 (GLOBE NEWSWIRE) -- LIXTE Biotechnology Holdings, Inc. (“LIXTE” or the “Company”) (Nasdaq: LIXT) announced today that it will effect a 1-for-10 reverse stock split of its issued and outstanding common stock effective on Friday, June 2, 2023. Commencing with the opening of trading on the Nasdaq Capital Market on Monday, June 5, 2023, the Company’s common stock will trade on a post-split basis under the same symbol LIXT. The reverse stock split was approved by the Company’s stockholders at a special meeting of stockholders held on May 26, 2023, with the final ratio being determined by the Company’s Board of Directors. As a result of the reverse stock split, the CUSIP number for the Company’s common stock will be changed to 539319301, and every 10 shares of issued and outstanding common stock will be exchanged for 1 share of common stock, with any fractional shares being rounded up to the next higher whole share. Immediately after the reverse stock split becomes effective, the Company will have approximately 1,665,909 shares of common stock issued and outstanding. The reverse stock split is primarily intended to increase the per share trading price of LIXTE’s common stock to bring the Company into compliance with Nasdaq’s minimum bid price requirement for continued listing on the Nasdaq Capital Market. However, there can be no assurances that the Company will be able to remain in compliance with the minimum bid price requirement over time, or that it will be successful in maintaining compliance with any of the other Nasdaq continued listing requirements. Computershare Trust Company, N.A. (Computershare) is acting as the exchange agent and transfer agent for the reverse stock split. Stockholders are not required to take any action to receive post-split shares. Stockholders of record who hold their shares in book-entry form will be provided with a statement by Computershare reflecting the number of shares of LIXTE’s common stock registered in their accounts following the reverse stock split. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the reverse stock split in accordance with the particular administrative processes of their respective banks, brokers or other nominees. Additional information regarding the reverse stock split can be found ...