Seelos Therapeutics Announces Reverse Stock Split and Adjustments

Seelos Therapeutics ( (SEEL) ) just unveiled an update.

Seelos Therapeutics, Inc. has announced a 1-for-16 reverse stock split scheduled to take effect on September 27, 2024, reducing the number of issued and outstanding shares and the total authorized shares in efforts to comply with Nasdaq’s minimum bid price requirement. The reverse stock split will also proportionately adjust the terms of the company’s outstanding warrants, stock options, and equity incentive plans. No fractional shares will be issued; instead, they will be rounded up to the nearest whole share. The company’s common stock will continue trading on the Nasdaq under the same symbol “SEEL” with a new CUSIP number.

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