Biocept Announces One-for-Thirty Reverse Stock Split

Rhea-AI Summary

Biocept announces 1-for-30 reverse stock split, trading to begin on split-adjusted basis

Positive

• Biocept's common stock will begin trading on a split-adjusted basis
• No fractional shares of common stock were issued to any stockholders

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, announces that as a result of its 1-for-30 reverse stock split that became effective at 4:05 p.m. Eastern Time on May 16, 2023, its common stock will begin trading on a split-adjusted basis with the open of the market today, May 17, 2023. Biocept’s common stock will continue to trade under the existing trading symbol “BIOC.”

As a result of the reverse stock split, each 30 pre-split shares of common stock outstanding were automatically combined and converted into one issued and outstanding share of common stock. No fractional shares of common stock were issued to any stockholders in connection with the reverse stock split. Holders of record will receive a cash payment in lieu of fractional shares.

Stockholders of record will receive information regarding their share ownership following the reverse stock split from the Company’s transfer agent, Continental Stock Transfer & Trust. Continental Stock Transfer & Trust can be reached at (800) 509-5586 or (212) 509-4000 or by email at cstmail@continentalstock.com.

For additional information regarding the reverse stock split, please refer to Biocept’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 16, 2023.

About Biocept

Biocept is a molecular diagnostics company with commercialized assays for patients with carcinomas or melanomas. Our experts have spent years working to change the way physicians look at cerebrospinal fluid (CSF) in cancer patients. Biocept has developed a unique, patented methodology to isolate cancer material that is shed from the primary tumor, such as CSF tumor cells (CSF-TCs) and cell-free DNA (cfDNA). As such, Biocept is a leading commercial provider of testing services designed to enable clinicians to rapidly detect and monitor cancer biomarkers from a cerebrospinal fluid sample.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230517005283/en/

Investor and Media Contact:

Jody Cain, LHA Investor Relations

Jcain@lhai.com, 310-691-7100

Source: Biocept, Inc.

FAQ

What is the trading symbol for Biocept's common stock?

Biocept's common stock will continue to trade under the existing trading symbol 'BIOC.'

How many pre-split shares of common stock were combined into one issued and outstanding share?

Each 30 pre-split shares of common stock outstanding were automatically combined and converted into one issued and outstanding share of common stock.

Will stockholders receive fractional shares of common stock?

No fractional shares of common stock were issued to any stockholders in connection with the reverse stock split. Holders of record will receive a cash payment in lieu of fractional shares.

How can stockholders contact Biocept's transfer agent for information regarding their share ownership?

Stockholders can contact Continental Stock Transfer & Trust at (800) 509-5586 or (212) 509-4000 or by email at cstmail@continentalstock.com.

Where can I find additional information about the reverse stock split?

Additional information can be found in Biocept's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 16, 2023.