CLXT - CLXT STOCK NEWS

Calyxt, Inc. (Nasdaq: CLXT) has successfully completed a 1-for-10 reverse stock split of its common stock, effective April 24, 2023. This decision was approved by shareholders on June 1, 2022, and aims to enhance the company's stock price and maintain compliance with Nasdaq listing standards. Post-split, the number of outstanding shares has decreased from approximately 49.7 million to about 5 million, but the total authorized shares remain unchanged. The stock will resume trading on an adjusted basis on April 25, 2023, under the symbol CLXT and a new CUSIP number. The company’s equity-based awards will be adjusted proportionately. No action is required from registered stockholders as their holdings will be automatically updated.

On April 18, 2023, Calyxt (Nasdaq: CLXT) announced that its Registration Statement on Form S-4, related to its merger with Cibus, was declared effective by the SEC. This filing is a key step in the merger process, with a Special Meeting scheduled for May 18, 2023, for Calyxt stockholders to vote on the merger details. The combined company will adopt the name Cibus, Inc. and trade under the new ticker symbol CBUS. The merger aims to leverage both companies' technologies to enhance productivity and sustainability in agriculture. The Registration Statement and related proxy statement/prospectus provide crucial information about the merger. The closing of the merger is anticipated in Q2 2023, contingent on shareholder approval and other customary conditions.

Calyxt, Inc. (Nasdaq: CLXT) announced it will execute a 1-for-10 reverse stock split effective after trading on April 24, 2023. This decision follows shareholder approval on June 1, 2022, and will reduce the number of outstanding shares from approximately 49.3 million to 4.9 million, with the adjusted common stock trading from April 25, 2023. The reverse stock split will not affect the total shares authorized or the par value. Adjustments will be made to equity-based awards, with fractional shares rounding up to whole shares. The common stock will continue trading under the symbol 'CLXT' but under a new CUSIP number. Further details are available in the definitive proxy statement filed with the SEC on April 19, 2022.

Calyxt announced a merger with Cibus Global, aiming to create a leading company in gene editing for agriculture. The all-stock transaction allows Calyxt shareholders to retain approximately 5% ownership post-merger, expected to close in Q2 2023, pending shareholder approval. Financial results for Q4 2022 show nominal revenue of $0, down from $1.9 million in Q4 2021, primarily due to the cessation of the soybean product line, while operating expenses decreased to $3.4 million. Notably, Calyxt has secured interim funding from Cibus to sustain operations through Q2 2023. The company continues to progress on key customer projects and technologies.

Calyxt, Inc. (Nasdaq: CLXT) has filed a Form S-4 with the SEC regarding its merger with Cibus, a leader in precision gene editing in agriculture. Announced on January 17, 2023, the merger is expected to close in the second quarter of 2023, subject to shareholder approval. Following the merger, the new entity will be named Cibus, Inc. and will trade under the ticker symbol CBUS.

This registration statement includes a preliminary proxy statement and prospectus, providing essential details on the merger and its implications. Investors are urged to review these materials once effective.

The merger between Calyxt and Cibus aims to create a leading entity in precision gene editing and sustainable agriculture. Under the all-stock deal, Calyxt shareholders will retain approximately 5% of the new company, which will operate under the name Cibus Inc. Key applications include enhancing productivity traits in seeds and developing renewable low-carbon ingredients. The merger supports a strong collaboration pipeline with major seed companies, with three productivity traits expected to launch in early 2023. Both companies anticipate significant regulatory developments that could enhance market opportunities.

Calyxt, Inc. (NASDAQ: CLXT) has successfully completed the first phase of its research collaboration with a major Asian food ingredient manufacturer to develop a soybean variant that produces oil as an alternative to palm oil. This achievement reflects Calyxt's expertise in synthetic biology and sustainability. Following this milestone, the company will receive a cash payment and has initiated the second phase of the project, expecting completion by Q1 2024. This collaboration highlights the urgent need for sustainable alternatives to traditional palm oil.

Calyxt, Inc. (Nasdaq: CLXT) received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The new deadline is May 15, 2023. To regain compliance, the company's ordinary shares must close at $1.00 or more for 10 consecutive business days before this date. Nasdaq determined Calyxt met other listing requirements, but if compliance isn't achieved, the company may face delisting. The company is considering options, including a potential reverse stock split, to meet requirements.