BioRestorative Therapies announced on Wednesday that it will effect a 1-for-20 reverse stock split at 4:30 p.m. ET on September 7, with shares trading on a split-adjusted basis starting September 8. The reverse split will reduce the company's outstanding shares from approximately 27.62 million to 1.38 million, and the number of authorized common shares will be reduced proportionately from 1.5 billion to 75 million. The move is intended to help the company regain compliance with Nasdaq's $1 minimum bid price requirement. Holders entitled to a fractional share will receive one whole share instead, and outstanding stock options, warrants, and other incentive awards will be proportionally adjusted, including applicable exercise prices.
BioRestorative Therapies IncReverse stock split to regain Nasdaq compliance; no direct operational impact.
