COSCIENS Biopharma Inc. Completes Share Capital Amendment

About this update from Cosciens Biopharma Inc.

TORONTO, ONTARIO, July 03, 2026 (GLOBE NEWSWIRE) -- COSCIENS Biopharma Inc. (TSX: CSCI) (OTCQB: CSCIF) ("COSCIENS" or the "Company"), today announced the previously announced consolidation (the "Consolidation") of the common shares of the Company (the "Common Shares") on the basis of a ratio of one post-Consolidation Common Share for every 150 pre-Consolidation Common Shares (the "Consolidation Ratio"); and (ii) an immediate subsequent split (the "Split") of the Common Shares on the basis of 50 Common Shares for every one post-Consolidation Common Share (collectively, the "Share Capital Amendment"), became effective today (the "Effective Date"). Shareholders who held fewer than 150 Common Shares as of the close of business yesterday became entitled to a cash payment of US$1.60 in exchange for their pre-Consolidation Common Shares. All other shareholders participated in the Split and, as a result, will have their pre-Consolidation interest reduced by a factor of three (subject to rounding any post-Split fractional interests). The Common Shares are expected to begin trading on a post-Share Capital Amendment basis on the TSX within two business days of the Effective Date under the same trading symbol. As previously announced, letters of transmittal were mailed to registered shareholders on or about May 26, 2026 providing instructions to surrender the certificates or DRS advices evidencing their Common Shares to the Company's depositary and exchange agent, Computershare Investor Services Inc. ("Computershare"), for (i) in the case of holders of 150 or more Common Shares as of the Effective Date, replacement DRS advices representing the number of Common Shares such shareholder is entitled to as a result of the Share Capital Amendment and (ii) in the case of holders of less than 150 Common Shares as of the Effective Date, the Cash Consideration. Copies of the letters of transmittal are available on the Company's SEDAR+ profile at http://www.sedarplus.ca. The Company is expected to proceed with filing a Form 15 with the U.S. Securities and Exchange Commission on July 6, 2026 which is anticipated to allow the Company to suspend its reporting obligations under the U.S. Securities and Exchange Act of 1934, as amended. About COSCIENS Biopharma Inc. COSCIENS is a holding company, operating through its subsidiaries. COSCIENS's principal operating subsidiary, Ceapro In...

View stock analysis, news, and events for Cosciens Biopharma Inc.