Clene (CLNN) has issued an announcement.
On July 8, 2024, Clene Inc. announced a 1-for-20 reverse stock split, effective July 11, 2024, after filing with the State of Delaware. This adjustment means every 20 shares of Clene Inc.’s common stock will merge into one, with the stock trading on a split-adjusted basis from the opening of the market on the effective date. No fractional shares will be issued; instead, shareholders will receive cash compensation. This move will not affect the total number of authorized shares or change ownership percentages, barring fractional share adjustments. All related securities, including stock options and warrants, will be adjusted accordingly. The company’s issued and outstanding shares will reduce from approximately 128.7 million to about 6.4 million.
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