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Viveve(R) Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ
Viveve(R) Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ.
About this update from Viveve Medical, Inc.
[{"type":"text","content":"\nViveve(R) Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ\n\nViveve(R) Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ\n\n\n SUNNYVALE, CA--(Marketwired - April 14, 2016) - Viveve Medical, Inc. (\"Viveve\") (OTCQB: VIVMF), a medical technology company focused on women's health, today announced that it will implement a 1-for-8 reverse split of its common stock in connection with its application for listing of its common stock on the NASDAQ Capital Market. The reverse stock split will become effective with the Financial Industry Regulatory Authority (FINRA) and Viveve common stock will begin trading on a post-split basis on the OTCQB under the temporary symbol \"VIVMFD\" on Monday, April 18th. There is no assurance that the company's listing application will be approved by NASDAQ.\"This reverse stock split is an important component of Viveve's capital markets strategy,\" stated Patricia Scheller, chief executive officer of Viveve. \"We believe moving Viveve to a national exchange will represent a significant step toward our efforts to create long-term shareholder value, while attracting a broader and more diverse shareholder base.\" At the effective time of the 1-for-8 reverse stock split, every eight shares of issued and outstanding Viveve common stock will be converted into one share of issued and outstanding Viveve common stock. 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 7.5 million shares of common stock outstanding. Following the effective time of the reverse split, the company also intends to change its domicile from Yukon Territory to Delaware, which was approved by the shareholders at the company's 2015 annual shareholder meeting.Shareholders of record are not required to send in their current stock certificates or evidence of book-entry or other electronic positions for exchange. After the reverse stock split is effective, each stock certificate and book entry or other electronic position representing issued and outstanding shares of the company's common stock will be automatically adjusted. Shareholders should direct any questions concerning the reverse split to their broker or the company's transfer agent, VStock...