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SANUWAVE Health Announces 1-For-375 Reverse Stock Split
Common Stock Will Begin Trading on a Split-adjusted Basis on October 18, 2024 EDEN PRAIRIE, Minn., Oct. 16, 2024 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc.
About this update from Sanuwave Health, Inc.
[{"type":"text","content":"Common Stock Will Begin Trading on a Split-adjusted Basis on October 18, 2024 EDEN PRAIRIE, Minn., Oct. 16, 2024 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc. (the “Company” or “SANUWAVE”) (OTCQB: SNWV), a leading provider of next-generation FDA-approved wound care products, today announced that, effective at 12:01 a.m. Mountain Time on October 18, 2024, the Company will implement a 1-for-375 reverse stock split of its outstanding common stock. The Company’s common stock will continue to trade under the symbol “SNWV” on the OTCQB and is expected to begin trading on a split-adjusted basis at the opening of the market on October 18, 2024, under a new CUSIP number, 80303D 305. The reverse stock split will reduce the number of outstanding shares of Company common stock from approximately 1,181,272,961 shares to approximately 3,150,062 shares. Proportional adjustments will be made to the number of shares of SANUWAVE’s common stock subject to outstanding equity awards, convertible notes and warrants, as well as the applicable conversion or exercise price. Information for SANUWAVE Stockholders Upon the effectiveness of the reverse stock split, every 375 shares of issued and outstanding Company common stock at the close of business on October 17, 2024, will be automatically combined into one issued and outstanding share of common stock, with no change in par value per share. In connection with the reverse stock split, there will be no change to the total number of authorized shares of Company common stock as set forth in the Articles of Incorporation, as amended. No fractional shares will be issued as a result of the reverse stock split. Any fractional shares that would have resulted from the reverse stock split will be settled in cash. The reverse stock split will affect all common stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s common stock, except to the extent that the reverse stock split results in some stockholders experiencing an adjustment of a fractional share as described above. Record holders of Company common stock will receive a transaction statement with respect to the exchange of such shares for post-reverse split shares. Stockholders holding stock certificates will receive information from Securities Transfer Corporation (“STC”), the transfer agent for the Company’s common sto...