Theriva Biologics Announces Reverse Stock Split
Theriva Biologics (NYSE American: TOVX) has announced a 1-for-25 reverse stock split effective August 26, 2024. This strategic move aims to ensure compliance with NYSE American's per-share price requirements. Key points include:
- Trading on a split-adjusted basis begins August 26, 2024
- Outstanding shares will reduce from 25,131,230 to 1,005,249
- No shareholder approval required due to Nevada state laws
- New CUSIP number: 87164U 508
- Fractional shares will be rounded up to the next whole share
- No action required for stockholders holding shares in brokerage accounts
This corporate action demonstrates Theriva's commitment to maintaining its NYSE American listing while potentially improving its stock's marketability.
Theriva Biologics (NYSE American: TOVX) ha annunciato uno split azionario inverso 1-per-25 che entrerà in vigore il 26 agosto 2024. Questa mossa strategica ha l'obiettivo di garantire la conformità con i requisiti di prezzo per azione della NYSE American. I punti principali includono:
- L'inizio delle negoziazioni su base rettificata allo split è previsto per il 26 agosto 2024
- Le azioni in circolazione verranno ridotte da 25.131.230 a 1.005.249
- Non è necessaria l'approvazione degli azionisti a causa delle leggi statali del Nevada
- Nuovo numero CUSIP: 87164U 508
- Le azioni frazionarie verranno arrotondate al valore intero successivo
- Non è richiesto alcun intervento da parte degli azionisti che detengono azioni in conti di intermediazione
Questa azione aziendale dimostra l'impegno di Theriva nel mantenere la sua quotazione sulla NYSE American, migliorando potenzialmente la commerciabilità delle sue azioni.
Theriva Biologics (NYSE American: TOVX) ha anunciado un split de acciones inverso de 1-for-25 que será efectivo el 26 de agosto de 2024. Este movimiento estratégico tiene como objetivo asegurar el cumplimiento de los requisitos de precio por acción de NYSE American. Los puntos clave incluyen:
- El comercio en base ajustada por el split comenzará el 26 de agosto de 2024
- Las acciones en circulación se reducirán de 25.131.230 a 1.005.249
- No se requiere aprobación de los accionistas debido a las leyes del estado de Nevada
- Nuevo número CUSIP: 87164U 508
- Las acciones fraccionarias se redondearán al siguiente número entero
- No se requiere ninguna acción por parte de los accionistas que tengan acciones en cuentas de corretaje
Esta acción corporativa demuestra el compromiso de Theriva de mantener su cotización en NYSE American mientras mejora potencialmente la comerciabilidad de sus acciones.
Theriva Biologics (NYSE American: TOVX)는 2024년 8월 26일에 시행될 25주당 1주 분할 매매를 발표했습니다. 이 전략적 결정은 NYSE American의 주당 가격 요건을 준수하기 위한 것입니다. 주요 사항은 다음과 같습니다:
- 분할 조정 기준으로 거래 시작: 2024년 8월 26일
- 발행 주식 수가 25,131,230주에서 1,005,249주로 줄어듭니다
- 네바다 주법에 따라 주주 승인 불필요
- 새로운 CUSIP 번호: 87164U 508
- 분수 주식은 다음 정수 주식으로 반올림됩니다
- 브로커리지 계좌에서 주식 보유자는 별도의 조치를 취할 필요가 없습니다
이번 기업 행동은 Theriva가 NYSE American 상장을 유지하려는 의지를 보여주며, 주식의 시장성을 개선할 가능성을 내포하고 있습니다.
Theriva Biologics (NYSE American: TOVX) a annoncé une division d'actions inversée de 1 pour 25 prenant effet le 26 août 2024. Ce mouvement stratégique vise à garantir le respect des exigences de prix par action de la NYSE American. Les points clés incluent :
- Le trading sur une base ajustée débutera le 26 août 2024
- Le nombre d'actions en circulation sera réduit de 25 131 230 à 1 005 249
- Aucune approbation des actionnaires n'est requise en raison des lois de l'État du Nevada
- Nouveau numéro CUSIP : 87164U 508
- Les actions fractionnaires seront arrondies à l'action entière suivante
- Aucune action n'est requise pour les actionnaires détenant des actions dans des comptes de courtage
Cette action d'entreprise démontre l'engagement de Theriva à maintenir son inscription à la NYSE American tout en améliorant potentiellement la commercialité de ses actions.
Theriva Biologics (NYSE American: TOVX) hat einen 1-zu-25 Aktienumtausch angekündigt, der am 26. August 2024 in Kraft tritt. Dieser strategische Schritt zielt darauf ab, die Anforderungen an den Aktienpreis der NYSE American einzuhalten. Die wichtigsten Punkte sind:
- Der Handel basiert auf dem umgeteilten Kurs ab dem 26. August 2024
- Die ausstehenden Aktien werden von 25.131.230 auf 1.005.249 reduziert
- Aufgrund der Gesetze des Bundesstaates Nevada ist keine Zustimmung der Aktionäre erforderlich
- Neue CUSIP-Nummer: 87164U 508
- Bruchstücke von Aktien werden auf die nächste ganze Aktie aufgerundet
- Aktionäre, die Aktien auf Depotkonten halten, müssen keine Maßnahmen ergreifen
Diese Unternehmensmaßnahme zeigt Therivas Engagement, die NYSE American-Notierung aufrechtzuerhalten und gleichzeitig möglicherweise die Marktfähigkeit seiner Aktien zu verbessern.
- Ensures compliance with NYSE American listing requirements
- Potential to improve stock marketability
- No shareholder dilution as fractional shares are rounded up
- Significant reduction in outstanding shares from 25,131,230 to 1,005,249
- Possible indication of struggling share price
- May impact liquidity due to reduced number of tradable shares
Theriva Biologics' reverse stock split is a strategic move to maintain NYSE American listing compliance. While it doesn't directly impact the company's market cap, it could have mixed implications. Positively, it may attract institutional investors who avoid low-priced stocks. Negatively, it might be perceived as a sign of financial distress. The 1:25 ratio is significant, reducing outstanding shares from
This reverse split could be a double-edged sword for Theriva Biologics. On one hand, it helps maintain NYSE American listing, potentially preserving investor confidence and market access. On the other, it might signal underlying financial challenges. The market often views reverse splits skeptically, associating them with struggling companies. Post-split, we might see increased volatility as the market reprices the stock. The timing of the split, effective August 26, 2024, gives investors a short window to adjust their positions. The biotech sector's high-risk nature amplifies the importance of this move. Investors should closely watch for any accompanying strategic announcements or pipeline updates that could provide context for this financial maneuver.
ROCKVILLE, Md., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Theriva Biologics, Inc. (NYSE American: TOVX), a diversified clinical-stage company developing therapeutics designed to treat diseases in areas of high unmet need, announced today a reverse stock split of its issued and outstanding common stock, par value
As a result of the reverse split, each twenty five (25) pre-split shares of common stock outstanding will automatically combine into one (1) new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from 25,131,230 shares to 1,005,249 shares without taking into account fractional shares.
The reverse stock split is being effected to ensure that the Company can meet the per share price requirements of the NYSE American, the Company's current listing exchange.
No fractional shares will be issued as a result of the reverse stock split. Shareholders who otherwise would be entitled to a fractional share because they hold a number of shares not evenly divisible by the 1 (one) for twenty five (25) reverse split ratio, will automatically be entitled to receive an additional fractional share of the Company’s common stock to round up to the next whole share.
The Company’s transfer agent, Equiniti Trust Company, which is also acting as the exchange agent for the reverse split, will send instructions to stockholders of record who hold stock certificates regarding the exchange of their old certificates for new certificates, should they wish to do so. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take action to effect the exchange of their shares.
About Theriva™ Biologics, Inc.
Theriva™ Biologics (NYSE American: TOVX), is a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need. The Company is advancing a new oncolytic adenovirus platform designed for intravenous (IV), intravitreal and antitumoral delivery to trigger tumor cell death, improve access of co-administered cancer therapies to the tumor, and promote a robust and sustained anti-tumor response by the patient’s immune system. The Company’s lead candidates are: (1) VCN-01, an oncolytic adenovirus designed to replicate selectively and aggressively within tumor cells, and to degrade the tumor stroma barrier that serves as a significant physical and immunosuppressive barrier to cancer treatment; (2) SYN-004 (ribaxamase) which is designed to degrade certain commonly used IV beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent microbiome damage, thereby limiting overgrowth of pathogenic organisms such as VRE (vancomycin resistant Enterococci) and reducing the incidence and severity of acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant (HCT) recipients; and (3) SYN-020, a recombinant oral formulation of the enzyme intestinal alkaline phosphatase (IAP) produced under cGMP conditions and intended to treat both local GI and systemic diseases. For more information, please visit Theriva Biologics’ website at www.therivabio.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding our planned stock split. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the stock split having the desired effect, the ability to continue to enroll patients as planned, generating clinical data that establishes VCN-01 may lead to improved clinical outcomes for patients with PDAC and other solid cancers; the Company’s and VCN’s product candidates demonstrating safety and effectiveness, as well as results that are consistent with prior results; the ability to complete clinical trials on time and achieve the desired results and benefits; the ability to obtain regulatory approval for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s and VCN’s ability to promote or commercialize their product candidates for the specific indications, acceptance of product candidates in the marketplace and the successful development, marketing or sale of the Company’s and VCN’s products, developments by competitors that render such products obsolete or non-competitive, the Company’s and VCN’s ability to maintain license agreements, the continued maintenance and growth of the Company’s and VCN’s patent estate, the ability to continue to remain well financed and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and Theriva Biologics undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
For further information, please contact:
Investor Relations:
Chris Calabrese
LifeSci Advisors, LLC
ccalabrese@lifesciadvisors.com
917-680-5608
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