Lunai Bioworks, Inc. to Effect 10:1 Reverse Stock Split
Rhea-AI Summary
Lunai Bioworks (NASDAQ:RENB) has announced a 10:1 reverse stock split effective September 30, 2025, to comply with Nasdaq's minimum bid price requirement. The company's stock will trade under the new symbol "LNAI" with a new CUSIP number.
The reverse split will reduce outstanding shares from approximately 231.8 million to 23.2 million. The measure, approved by stockholders on August 15, 2025, will automatically convert every 10 current shares into 1 new share, with fractional shares rounded up. Proportionate adjustments will be made to exercise prices and equity awards.
Positive
- None.
Negative
- Indicates company's struggle to maintain minimum bid price requirements
- No guarantee of maintaining Nasdaq listing even after split
- Significant reduction in total outstanding shares could impact liquidity
News Market Reaction 22 Alerts
On the day this news was published, RENB gained 5.63%, reflecting a notable positive market reaction. Our momentum scanner triggered 22 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $41M at that time. Trading volume was very high at 4.0x the daily average, suggesting strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Measure taken to Comply with Nasdaq Rule 5550(a)(2) Regarding Minimum Bid Price
LOS ANGELES, CA / ACCESS Newswire / September 24, 2025 / Lunai Bioworks, Inc. (Nasdaq:RENB) ("Lunai Bioworks" or the "Company"), a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced that the Company's Board of Directors has approved a 10:1 reverse stock split of the Company's issued and outstanding common stock, par value
On August 15, 2025, the Company's stockholders approved a reverse stock split of the Company's Common Stock at a ratio of not less than 3:1 and no more than 10:1, with such ratio to be determined at the discretion of the Company's Board of Directors. The reverse stock split is intended to bring the Company into compliance with the minimum bid price requirement for continued listing on Nasdaq, although there is no assurance that the trading price for the Common Stock would remain over the continued listing requirements of Nasdaq in order to regain compliance with the Bid Price Requirement or sustain a continued listing of our Common Stock on the Nasdaq.
The 10:1 reverse stock split will automatically result in the conversion of ten (10) current shares of the Company's Common Stock into one (1) new share of Common Stock. Any fraction of a share of Common Stock outstanding that would be created as a result of the reverse stock split will be rounded up to the next whole share. Holders of the Company's Common Stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from the Company's transfer agent regarding their common stock ownership post-reverse stock split.
The reverse stock split is expected to reduce the number of shares of the Company's Common Stock outstanding on or about September 30, 2025, from approximately 231,780,434 shares to approximately 23,178,096 shares subject to some variability as a result of the fractional upward adjustments. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company's outstanding equity awards, as applicable, as well as to the number of shares issuable under the Company's equity incentive plans and certain existing agreements. The Common Stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not affect the number of authorized shares of Common Stock.
Stockholders who hold shares electronically in book-entry form with Securities Transfer Corporation, the Company's transfer agent, will not need to take action to receive evidence of their shares of post-reverse stock split Common Stock.
Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC") on July 30, 2025 which is available free of charge at the SEC's website, www.sec.gov.
About Lunai Bioworks, Inc.:
Lunai Bioworks Inc. is an AI-powered drug discovery and biodefense company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the Private Litigation Reform Act of 1995 regarding the plans and objectives of management for future operations and market trends and expectations. Forward-looking statements can be identified by the fact that they do not related strictly to historical or current facts. Forward-looking statements are based upon our current assumptions, expectations and beliefs concerning future developments and their potential effect on our business. In some cases, you can identify forward-looking statements by the following words: "may", "could", "would", "should", "expect", "intend", "plan", "anticipate", "believe", "approximately", "estimate", "predict", "project", "potential" or the negative of these terms or other comparable terminology, although the absence of these words does not necessarily mean that a statement is not forward-looking. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. You should not place undue reliance on forward-looking statements, which speak only as of the date of this Press Release. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations and assumptions that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions involving the continued expansion of our business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Lunai Bioworks encourages you to review the risk factors that may affect its future performance in its filings with the Securities and Exchange Commission. We are including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
For more information, please contact:
Investor Contact
Nathen Fuentes
Chief Financial Officer
investors@renovaro.com
www.renovarogroup.com
SOURCE: Lunai Bioworks, Inc.
View the original press release on ACCESS Newswire
FAQ
When will Lunai Bioworks (RENB) 10:1 reverse stock split take effect?
What happens to RENB shareholders' existing shares after the reverse split?
What is the new trading symbol for Lunai Bioworks after the reverse split?
How many shares will Lunai Bioworks have outstanding after the reverse split?
Why is Lunai Bioworks conducting a reverse stock split?
