CohBar (CWBR) Stock: 1-For-30 Reverse Split Goes Into Effect

By Amit Chowdhry ● Sep 23, 2022
  • A 1-for-30 reverse split of CohBar (CWBR) stock has gone into effect today. These are the details.

CohBar’s Board of Directors approved a 1-for-30 reverse stock split of the company’s common stock yesterday. And the reverse stock split became effective at 12:01 am ET today and will start trading on a split-adjusted basis at the market open on September 23, 2022, with the new CUSIP number 19249J 307.

Why: The company is implementing the reverse stock split to enable it to regain compliance with the Nasdaq $1.00 minimum bid price requirement.

Details: The reverse stock split was approved by the company’s stockholders at the company’s 2022 Annual Meeting, held on June 15, 2022, in a range not to exceed 1-for-30. And as a result of the reverse stock split, every 30 shares of the company’s common stock issued and outstanding will be automatically reclassified into one share of common stock. No fractional shares will be issued in connection with the reverse split. Stockholders will be entitled to a cash payment in lieu of any fractional shares.

Concurrent with the approval of the reverse stock split, the shareholders also approved an effective increase in the number of authorized shares of the company’s common stock. Subsequent to the reverse stock split and adjusting for the effective increase in authorized shares, there will be approximately 12 million shares of common stock authorized for issuance.