Business
Lunai Bioworks, Inc. to Effect 10:1 Reverse Stock Split
Measure taken to Comply with Nasdaq Rule 5550(a)(2) Regarding Minimum Bid Price LOS ANGELES, CA / ACCESS Newswire / September 24, 2025 / Lunai Bioworks, Inc.
About this update from Lunai Bioworks Inc.
[{"type":"text","content":"Measure taken to Comply with Nasdaq Rule 5550(a)(2) Regarding Minimum Bid Price LOS ANGELES, CA / ACCESS Newswire / September 24, 2025 / Lunai Bioworks, Inc. (Nasdaq:RENB) (\"Lunai Bioworks\" or the \"Company\"), a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced that the Company's Board of Directors has approved a 10:1 reverse stock split of the Company's issued and outstanding common stock, par value $0.0001 per share (the \"Common Stock\") to be effective 12:01 a.m., Eastern Time, on September 30, 2025. The Company's Common Stock will trade on the Nasdaq Capital Market LLC under the symbol \"LNAI\" following the reverse stock split, with a new CUSIP number of 29350E 203. The Company expects its Common Stock to open for trading on a post-split basis on Nasdaq as of the commencement of trading on September 30, 2025.On August 15, 2025, the Company's stockholders approved a reverse stock split of the Company's Common Stock at a ratio of not less than 3:1 and no more than 10:1, with such ratio to be determined at the discretion of the Company's Board of Directors. The reverse stock split is intended to bring the Company into compliance with the minimum bid price requirement for continued listing on Nasdaq, although there is no assurance that the trading price for the Common Stock would remain over the continued listing requirements of Nasdaq in order to regain compliance with the Bid Price Requirement or sustain a continued listing of our Common Stock on the Nasdaq.The 10:1 reverse stock split will automatically result in the conversion of ten (10) current shares of the Company's Common Stock into one (1) new share of Common Stock. Any fraction of a share of Common Stock outstanding that would be created as a result of the reverse stock split will be rounded up to the next whole share. Holders of the Company's Common Stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from the Company's transfer agent regarding their common stock ownership post-reverse stock split.The reverse stock split is expected to reduce the number of shares of the Company's Common Stock outstanding on or about September 30, 2025, from approximately 231,780,434 sh...