- A reverse stock split of Exicure, Inc. (NASDAQ: XCUR) of 1-for-30 has gone into effect. These are the details.
Exicure, Inc. (NASDAQ: XCUR) – an early-stage biotechnology company focused on the development of next generation nucleic acid therapies targeting RNA to address both genetic and non-genetic neurological disorders and hair loss disorders – announced that following the implementation of a 1-for-30 reverse stock split at 5:00 p.m. EDT, the company’s common stock will begin trading on a split-adjusted basis on Nasdaq effective with the open of business as of Thursday, June 30, 2022.
The company’s common stock will continue to trade under the ticker symbol “XCUR”. And the new CUSIP number for the post-reverse split common shares is 30205M 200. The company is implementing the reverse stock split in an effort to regain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share.
As a result of the reverse stock split, every 30 pre-split shares of common stock outstanding will be automatically combined and converted into one issued and outstanding share of common stock, without any change in the par value per share. And no fractional shares of the Company’s common stock will be issued to any stockholders in connection with the reverse stock split. The holders of record will receive a cash payment in lieu of fractional shares.
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