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Avalo Therapeutics | 8-K: Current report

SEC announcement ·  Dec 28, 2023 00:00
Summary by Moomoo AI
Avalo Therapeutics, Inc. has announced the completion of a reverse stock split at a ratio of 1-for-240, effective as of 5:00 p.m. on December 28, 2023. The reverse stock split was previously approved by stockholders on December 20, 2023, and resulted in the reduction of outstanding common stock from approximately 192.4 million shares to approximately 801,611 shares. The action was taken to meet the continued listing criteria for the Nasdaq Capital Market. The company's common stock began trading on a split-adjusted basis on December 29, 2023, under the existing trading symbol 'AVTX'. Stockholders who would have received fractional shares as a result of the reverse stock split were instead given one whole share of common stock. The reverse stock split did not change the number of...Show More
Avalo Therapeutics, Inc. has announced the completion of a reverse stock split at a ratio of 1-for-240, effective as of 5:00 p.m. on December 28, 2023. The reverse stock split was previously approved by stockholders on December 20, 2023, and resulted in the reduction of outstanding common stock from approximately 192.4 million shares to approximately 801,611 shares. The action was taken to meet the continued listing criteria for the Nasdaq Capital Market. The company's common stock began trading on a split-adjusted basis on December 29, 2023, under the existing trading symbol 'AVTX'. Stockholders who would have received fractional shares as a result of the reverse stock split were instead given one whole share of common stock. The reverse stock split did not change the number of authorized shares or the par value per share. Adjustments will be made to the per share exercise price and number of shares issuable under all of the company's outstanding options and warrants, as well as the number of shares authorized and reserved for issuance under the company's equity incentive plan. Equiniti Trust Company, LLC is acting as the exchange agent for the reverse stock split.

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