HTG Announces One-for-Fifteen Reverse Stock Split

Rhea-AI Summary

HTG Molecular Diagnostics announced a one-for-fifteen reverse stock split effective at 5:00 p.m. ET on November 20, 2020. From November 23, 2020, its common stock commenced trading on a split-adjusted basis on Nasdaq under the ticker symbol HTGM. The reverse split combined every fifteen pre-split shares into one new share, and stockholders will receive cash for fractional shares. Share ownership details will be provided by the transfer agent, American Stock Transfer & Trust Company. HTG focuses on molecular profiling to advance precision medicine.

Positive

• The reverse stock split may enhance the stock's marketability and perception among investors.
• HTG focuses on NGS-based molecular profiling, which is critical for advances in precision medicine.

Negative

• The reverse stock split could be seen as a sign of previous stock price struggles.

TUCSON, Ariz., Nov. 23, 2020 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM), a life science company whose mission is to advance precision medicine, today announced that as a result of its one-for-fifteen reverse stock split which became effective at 5:00 p.m. Eastern Time on November 20, 2020, its common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market (“Nasdaq”) effective with the open of the market today, Monday, November 23, 2020. HTG’s common stock will continue to trade under the ticker symbol “HTGM.”

As a result of the reverse stock split, each fifteen 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 from HTG’s transfer agent, American Stock Transfer & Trust Company, LLC (“AST”). AST can be reached at (877) 248-6417 or (718) 921-8337. 

For additional information regarding the reverse stock split, please refer to HTG’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on November 19, 2020.

About HTG:
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Its mission is to empower precision medicine.

Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com

FAQ

What is HTG's recent stock split announcement?

HTG Molecular Diagnostics announced a one-for-fifteen reverse stock split effective November 20, 2020, with trading on a split-adjusted basis starting November 23, 2020.

How does the reverse stock split affect HTG shareholders?

HTG shareholders will see their shares consolidated, with every fifteen shares converting to one, and they will receive cash for any fractional shares.

What is the ticker symbol for HTG after the stock split?

HTG's common stock will continue to trade under the ticker symbol HTGM.

Who will provide information regarding share ownership after the reverse stock split?

HTG's transfer agent, American Stock Transfer & Trust Company, will provide information on share ownership to stockholders.