YARDLEY, PA — Optinose, Inc. (NASDAQ: OPTN) has announced a 1-for-15 reverse stock split, set to take effect on December 30, 2024, at 5:00 p.m. Eastern Time. Starting December 31, 2024, the company’s common stock will trade on a split-adjusted basis on the Nasdaq Global Select Market under its existing ticker symbol “OPTN” and a new CUSIP number 68404V209.
The reverse stock split aims to help Optinose regain compliance with Nasdaq’s $1.00 minimum closing bid price requirement for continued listing.
This decision, approved by stockholders on December 23, 2024, allows the company’s Board of Directors to amend its certificate of incorporation and execute the reverse split within a pre-approved range. Optinose’s Board determined the 1-for-15 ratio, reducing the number of outstanding shares from approximately 150.8 million to about 10.1 million.
The reverse stock split impacts all issued shares of Optinose’s common stock equally, without altering stockholders’ ownership percentages, apart from adjustments for fractional shares. Instead of fractional shares, affected stockholders will receive cash based on the December 30 closing price.
Additionally, all outstanding options, warrants, and shares reserved under Optinose’s stock and employee incentive plans will be adjusted to reflect the split. The reverse stock split will not change the number of authorized shares or the par value of Optinose’s common or preferred stock, which remain at $0.001 per share.
Broadridge Corporate Issuer Solutions, Inc. will oversee the process, assisting shareholders holding physical certificates in exchanging these for adjusted shares and handling fractional share payments.
This strategic move marks a critical effort by Optinose to meet listing requirements and sustain its operations in the public market under Nasdaq regulations.
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