Hookipa Pharma ( NASDAQ: HOOK ) is set to implement a 1-for-10 reverse stock split of its outstanding shares of common stock on July 9, 2024. The stock will begin trading on a reverse stock split-adjusted basis at market open on July 10, 2024. The split is intended to help the company regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
At the effective time of the reverse split, every 10 issued and outstanding HOOK shares will automatically be combined into one issued and outstanding share of the company’s common stock without any change in the par value per share. Fractional shares will not be issued in connection with the reverse stock split. The split will proportionately reduce the number of authorized shares of the company’s common stock from 400M to 40M shares, without any change in the par value per share.
The number of issued and outstanding shares will reduce from approximately 96.6M to 9.7M.
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