Press release
NUTEX HEALTH ANNOUNCES 1-FOR-15 REVERSE STOCK SPLIT
HOUSTON, April 5, 2024 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), today announced a 1-for-15 reverse stock split of
About this update from Nutex Health Inc.
[{"type":"text","content":"HOUSTON, April 5, 2024 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), today announced a 1-for-15 reverse stock split of its common stock effective with the market opening on Tuesday April 10, 2024. \n\nThe reverse stock split will take legal effect at 11:59pm Eastern Time on April 9, 2024, and the Company's common stock will open for trading on The Nasdaq Capital Market on April 10, 2024 on a post-split basis, under the existing ticker symbol \"NUTX\" but with new CUSIP number 67079U207. The reverse stock split is part of the Company's plan to regain compliance with the minimum bid price requirement for the continued listing on The Nasdaq Capital Market.\nThe reverse split was authorized by the Company's shareholders on June 29, 2023, granting the Company's Board of Directors (the \"Board\") the discretion to determine the timing and ratio of the split within a range of 1-2 and 1-15. The Board has now decided on the 1-for-15 ratio and will amend the Company's Amended and Restated Certificate of Incorporation to reflect this change.\nAs a result of the reverse stock split, every fifteen shares of the Company's common stock issued and outstanding prior to the opening of trading on April 10, 2024 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.001. No fractional shares will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will be entitled to the rounding up of the fractional share to the nearest whole number.\nAs a result of the reverse stock split, the number of common shares outstanding will be reduced from approximately 745 million shares to approximately 50 million shares, and the number of authorized shares of common stock will remain at 950 million shares. In addition, the number of shares reserved for issuance under the Company's equity compensation plan immediately prior to the reverse stock split will be reduced proportionately. Adjustments will also be made to the Company's outstanding warrants and stock options. The number of shares into which these securities are convertible or exercisable will be adjusted in line with the reverse split, as will the exercise prices of these securities.\nAbout Nutex Health Inc.\nHeadquartered in ...