HTG Announces One-for-Twelve Reverse Stock Split

Rhea-AI Summary

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) announced a one-for-twelve reverse stock split effective December 20, 2022. Starting December 21, 2022, HTGM's common stock will trade on a split-adjusted basis on the Nasdaq Capital Market. As a result of this split, every twelve shares will be combined into one share, with no fractional shares issued. Stockholders of record will receive a cash payment instead of fractional shares. Further information can be found in HTG's Current Report on Form 8-K filed on the same date.

Positive

• Reverse stock split may improve share price perception.
• Potentially attracts institutional investors due to higher share price.

Negative

• Reverse stock split can indicate underlying financial struggles.
• May result in reduced liquidity for shareholders.

TUCSON, Ariz., Dec. 20, 2022 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company advancing precision medicine through its innovative transcriptome-wide profiling and advanced medicinal chemistry technology, today announced that as a result of its one-for-twelve reserve stock split which became effective at 4:15 p.m. Eastern Time on December 20, 2022, its common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market (“Nasdaq”) effective with the open of the market tomorrow, Wednesday, December 21, 2022. HTG’s common stock will continue to trade under the ticker symbol “HTGM.”

As a result of the reverse stock split, each twelve 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 December 20, 2022.

About HTG:

HTG is accelerating precision medicine from diagnosis to treatment by harnessing the power of transcriptome-wide profiling to drive translational research, novel therapeutics and clinical diagnostics across a variety of disease areas.

Building on more than a decade of pioneering innovation and partnerships with biopharma leaders and major academic institutes, HTG’s proprietary RNA platform technologies are designed to make the development of life science tools and diagnostics more effective and efficient and to unlock a differentiated and disruptive approach to transformative drug discovery. For more information visit www.htgmolecular.com.

Investor Contact:

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

FAQ

What is the significance of HTGM's reverse stock split on December 20, 2022?

The reverse stock split consolidates shares to potentially raise the stock price and improve market perception.

When will HTGM's common stock begin trading on a split-adjusted basis?

HTGM's common stock will start trading on a split-adjusted basis on December 21, 2022.

What happens to fractional shares after HTGM's reverse stock split?

Holders of HTGM shares will receive cash payments instead of fractional shares.

How can I obtain more information on HTGM's reverse stock split?

Further details are available in HTG's Current Report on Form 8-K filed with the SEC on December 20, 2022.