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OncoSec Medical Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market
OncoSec Medical Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market.
About this update from Oncosec Medical Incorporated
[{"type":"text","content":"\n\n\n\nOncoSec Medical Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOncoSec Medical Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market\nPR Newswire\nSAN DIEGO, May 14, 2015\n\n\n\nSAN DIEGO, May 14, 2015 /PRNewswire/ -- OncoSec Medical Inc. (\"OncoSec\") (OTCQB: ONCS), a company developing DNA-based intratumoral cancer immunotherapies, today announced that its Board of Directors has approved a 1-for-20 reverse stock split of the company's authorized, issued, and outstanding common stock in preparation for its proposed listing of its common stock on the NASDAQ Capital Market. The reverse stock split will become effective with the Secretary of State of Nevada on May 18, 2015 and the company's common stock will begin trading on a split-adjusted basis upon Financial Industry Regulatory Authority (FINRA) approval. \n\n\"This reverse stock split represents a critical milestone for OncoSec as we intend to uplist to a national securities exchange to attract a broader, more diverse shareholder base,\" said Punit Dhillon, CEO and President of OncoSec. \"We believe that this is the next logical step for our company as we continue to enhance our intratumoral immunotherapy technology and advance our clinical pipeline. With the support of our shareholders, we look forward to validating our ImmunoPulse™ technology in clinical and preclinical studies, generating more value for our investors, and securing our place in this long-awaited revolution in cancer treatment.\"\n\nAt the effective time of the 1-for-20 reverse stock split, every 20 shares of issued and outstanding common stock will be converted into 1 share of issued and outstanding common stock, and the authorized shares of common stock will be reduced from 3,200,000,000 to 160,000,000 shares. All fractional shares of common stock will be rounded up to the nearest whole share. Immediately after the reverse stock split becomes effective, the company will have approximately 12,350,132...