TransCode Therapeutics Announces 1-for-28 Reverse Stock Split
TransCode Therapeutics (NASDAQ: RNAZ) has announced a 1-for-28 reverse stock split approved by its Board of Directors and stockholders on May 2, 2025. The split aims to increase the company's per share trading price to meet Nasdaq's minimum bid price requirements for continued listing. The reverse split will reduce outstanding common shares from 23,341,336 to approximately 833,620.
The conversion will automatically convert 28 current shares into one new share, with fractional shares rounded up to the nearest whole number. Proportional adjustments will be made to outstanding stock options, warrants, and shares under stock incentive plans. Vstock Transfer LLC will serve as the exchange agent, with the effective date to be announced at least two business days prior to implementation.
TransCode Therapeutics (NASDAQ: RNAZ) ha annunciato un raggruppamento azionario inverso 1-per-28 approvato dal Consiglio di Amministrazione e dagli azionisti il 2 maggio 2025. L'operazione ha lo scopo di aumentare il prezzo di negoziazione per azione della società, in modo da soddisfare i requisiti minimi di prezzo di offerta di Nasdaq per la quotazione continuativa. Il raggruppamento ridurrà il numero di azioni ordinarie in circolazione da 23.341.336 a circa 833.620.
La conversione trasformerà automaticamente 28 azioni attuali in una nuova azione, con le frazioni arrotondate per eccesso al numero intero più vicino. Verranno effettuate modifiche proporzionali alle opzioni azionarie in essere, ai warrant e alle azioni previste dai piani di incentivazione azionaria. Vstock Transfer LLC agirà come agente di scambio, con la data di efficacia che sarà annunciata almeno due giorni lavorativi prima dell'attuazione.
TransCode Therapeutics (NASDAQ: RNAZ) ha anunciado una consolidación inversa de acciones 1 por 28 aprobada por su Junta Directiva y accionistas el 2 de mayo de 2025. La consolidación tiene como objetivo aumentar el precio por acción para cumplir con los requisitos mínimos de precio de oferta de Nasdaq para la cotización continua. La consolidación inversa reducirá las acciones comunes en circulación de 23,341,336 a aproximadamente 833,620.
La conversión transformará automáticamente 28 acciones actuales en una nueva acción, redondeando las fracciones al número entero más cercano por exceso. Se realizarán ajustes proporcionales a las opciones sobre acciones, warrants y acciones bajo planes de incentivos accionarios vigentes. Vstock Transfer LLC actuará como agente de intercambio, y la fecha efectiva se anunciará al menos dos días hábiles antes de su implementación.
TransCode Therapeutics (NASDAQ: RNAZ)는 2025년 5월 2일 이사회와 주주들의 승인을 받아 1대 28 역병합 주식 분할을 발표했습니다. 이번 분할은 나스닥 상장 유지 조건인 최소 입찰 가격 요건을 충족시키기 위해 회사의 주당 거래 가격을 높이기 위한 것입니다. 역병합으로 인해 발행된 보통주는 23,341,336주에서 약 833,620주로 줄어듭니다.
이번 전환은 기존 주식 28주를 자동으로 1주로 전환하며, 소수점 주식은 가장 가까운 정수로 올림 처리됩니다. 미결제 주식 매수선택권, 워런트 및 주식 인센티브 계획에 따른 주식도 비례 조정됩니다. Vstock Transfer LLC가 교환 대리인으로 활동하며, 시행일은 최소 이틀 전 영업일에 공지될 예정입니다.
TransCode Therapeutics (NASDAQ : RNAZ) a annoncé une fusion inversée d'actions au ratio de 1 pour 28 approuvée par son conseil d'administration et ses actionnaires le 2 mai 2025. Cette opération vise à augmenter le prix par action pour répondre aux exigences minimales de prix d'offre du Nasdaq afin de maintenir la cotation. La fusion inversée réduira le nombre d'actions ordinaires en circulation de 23 341 336 à environ 833 620.
La conversion transformera automatiquement 28 actions actuelles en une nouvelle action, les fractions d'actions étant arrondies à l'entier supérieur le plus proche. Des ajustements proportionnels seront effectués sur les options d'achat d'actions en circulation, les bons de souscription et les actions dans le cadre des plans d'incitation. Vstock Transfer LLC agira en tant qu'agent d'échange, la date d'effet sera annoncée au moins deux jours ouvrables avant la mise en œuvre.
TransCode Therapeutics (NASDAQ: RNAZ) hat eine 1-zu-28 Reverse-Aktienzusammenlegung bekannt gegeben, die am 2. Mai 2025 vom Vorstand und den Aktionären genehmigt wurde. Ziel der Zusammenlegung ist es, den Kurs pro Aktie zu erhöhen, um die Mindestgebotsanforderungen der Nasdaq für die fortgesetzte Notierung zu erfüllen. Die Reverse-Split reduziert die ausstehenden Stammaktien von 23.341.336 auf etwa 833.620.
Die Umwandlung wandelt automatisch 28 bestehende Aktien in eine neue Aktie um, wobei Bruchteile auf die nächste ganze Zahl aufgerundet werden. Proportionale Anpassungen erfolgen bei ausstehenden Aktienoptionen, Warrants und Aktien im Rahmen von Aktienanreizplänen. Vstock Transfer LLC fungiert als Austauschagent, das Datum des Inkrafttretens wird mindestens zwei Geschäftstage vor der Umsetzung bekanntgegeben.
- Potential to maintain Nasdaq listing compliance through higher share price
- No action required from stockholders for the conversion process
- Indicates company's struggle to maintain minimum bid price requirements
- Significant reduction in total outstanding shares could impact liquidity
Insights
TransCode's 1-for-28 reverse split aims to maintain Nasdaq listing by drastically reducing share count to boost per-share price, without improving business fundamentals.
TransCode Therapeutics has announced a 1-for-28 reverse stock split to regain compliance with Nasdaq's minimum bid price requirements. This particularly steep ratio will consolidate every 28 existing shares into a single new share, reducing the total outstanding shares from 23,341,336 to approximately 833,620.
The magnitude of this reverse split is noteworthy. Most companies implement less severe ratios (1-for-5 or 1-for-10), suggesting TransCode's share price has fallen significantly below Nasdaq's
For shareholders, this means substantially fewer shares at a proportionally higher price. Fractional shares will be rounded up to the nearest whole number. The company will also make proportional adjustments to outstanding stock options and warrants and to shares issuable under incentive plans.
While reverse splits are legitimate tools for maintaining exchange listings, they often signal financial challenges. This action merely addresses the symptom (low share price) rather than any underlying business issues that caused the price decline initially. The split's implementation date remains undetermined, with the company promising at least two business days' notice before proceeding.
Shareholders holding stock through brokers or banks will see their positions automatically adjusted according to their institutions' processes. This corporate action doesn't require shareholder initiative but represents a significant reconfiguration of TransCode's capital structure necessitated by regulatory compliance concerns.
Split designed to achieve compliance with Nasdaq minimum bid price requirements
The 1-for-28 reverse stock split will automatically convert twenty-eight current shares of TransCode's common stock into one new share of common stock. No fractional shares will be issued in connection with the reverse stock split. In lieu of issuing fractional shares, stockholders of record who otherwise would be entitled to receive fractional shares will be entitled to rounding up of the fractional share to the nearest whole number. The reverse split will reduce the number of shares of common stock outstanding from 23,341,336 shares to approximately 833,620 shares. Proportional adjustments also will be made to the exercise prices of TransCode's outstanding stock options and warrants, and to the number of shares issued and issuable under TransCode's stock incentive plans.
Vstock Transfer LLC will act as the exchange agent for the reverse stock split. Stockholders of record are not required to take any action to receive post-split shares in book-entry. Stockholders owning shares through a bank, broker, custodian or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to the holding entity's particular processes; such stockholders will not be required to take any action in connection with the reverse stock split. However, these banks, brokers, custodians or other nominees may have different procedures for processing the reverse stock split than those for registered stockholders. If a stockholder holds shares of common stock with a bank, broker, custodian or other nominee and has any questions in this regard, stockholders are encouraged to contact their bank, broker, custodian or other nominee for more information.
The effective date of the reverse stock split has not yet been determined and will be announced by the Company at least two business days prior to its implementation.
About TransCode Therapeutics
TransCode is a clinical-stage oncology company focused on treating metastatic disease. The Company is committed to defeating cancer through the intelligent design and effective delivery of RNA therapeutics based on its proprietary TTX nanoparticle platform. The company's lead therapeutic candidate, TTX-MC138, is focused on treating metastatic tumors which overexpress microRNA-10b, a unique, well-documented biomarker of metastasis. In addition, TransCode is developing a portfolio of other first-in-class RNA therapeutic candidates designed to overcome the challenges of RNA delivery and thus unlock therapeutic access to a variety of novel genetic targets that could be relevant to treating a variety of cancers.
Forward-Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate, including the Company's expectations regarding the effect of the reverse stock split and its continued listing on Nasdaq. These and other risks and uncertainties are described more fully in the sections titled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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SOURCE TransCode Therapeutics, Inc.
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