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Satellos Announces Share Consolidation in Connection with Proposed Nasdaq Listing
Satellos Bioscience Inc . (TSX: MSCL, OTCQB: MSCLF) (“ Satellos ” or the ...
About this update from Satellos Bioscience Inc
[{"type":"text","content":"Satellos Announces Share Consolidation in Connection with Proposed Nasdaq Listing\n\n\n\n\n\n\n\n Satellos Bioscience Inc\n \n . (TSX: MSCL, OTCQB: MSCLF) (“\n \n Satellos\n \n ” or the “\n \n Company\n \n ”), a clinical-stage biotechnology company developing life-improving medicines to treat degenerative muscle diseases, today announces that the Company has completed a consolidation of its outstanding common shares (the “\n \n Common Shares\n \n ”) on the basis of one post-consolidation Common Share for every 12 pre-consolidation Common Shares (the “\n \n Consolidation\n \n ”). The Company believes that the Consolidation should permit it to qualify for a potential listing on The Nasdaq Stock Market LLC (“\n \n Nasdaq\n \n ”).\n \n\n The Consolidation ratio approved by the Board of Directors is within the previously disclosed range of ratios for a share consolidation authorized by the shareholders of the Company at the Annual and Special Meeting of Shareholders held on June 18, 2025. The Consolidation will take effect at market open on the Toronto Stock Exchange (“\n \n TSX\n \n ”) on or about January 30, 2026. The number of Common Shares currently outstanding is 185,507,153. The number of Common Shares expected to be outstanding following the Consolidation will be approximately 15,458,929.\n \n\n The Consolidation is intended to increase the quoted market per share price of the Company's Common Shares to meet Nasdaq's requirement that the Common Shares trade at US$3.00 or higher as of the listing date. The Company has applied to list the Common Shares on Nasdaq under the symbol “MSLE”. Final approval of the listing of the Company’s Common Shares on Nasdaq remains subject to the satisfaction of all applicable listing requirements and the approval of Nasdaq.\n \n\n “Effecting the share consolidation marks an important step forward to meeting the listing requirements for trading on the Nasdaq market,” said Frank Gleeson, co-founder and CEO of Satellos. “We believe a Nasdaq listing will position us well to improve market visibility, enhance liquidity, and broaden investor access.”\n \n\n Each shareholder's percentage ownership interest in the Company and proportional voting power will remain substanti...