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Bio-Path Holdings announces 1-for-10 reverse stock split.

Bio-Path Holdings announces a 1-for-10 reverse stock split of its issued and outstanding common stock, which was previously approved by the company's board and stockholders. The reverse stock split became effective at 5:00 pm Eastern Time on February 8, 2018, and the company's shares of common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market at the commencement of trading on February 9, 2018 under the company's existing symbol "BPTH." The company's common stock has been assigned a new CUSIP number of 09057N 201 in connection with the reverse stock split. The reverse stock split is intended to increase the per share trading price of the company's shares of common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. As a result of the reverse stock split, every 10 shares of common stock issued and outstanding were consolidated into one issued and outstanding share. The reverse stock split reduced the company's issued and outstanding shares of common stock from approximately 113.4 million to approximately 11.3 million. In addition, proportionate adjustments will be made to the exercise prices of the company's outstanding stock options and warrants and to the number of shares issued and issuable under the company's existing stock incentive plans.

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Publication:The Fly
Date:Feb 9, 2018
Words:217
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