Applied DNA Sciences announces 1-for-50 reverse stock split

Applied DNA Sciences (APDN) will effect a 1-for-50 reverse stock split of its issued and outstanding common stock. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on Friday, March 14, and Applied DNA common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market as of the commencement of market open that same day. Applied DNA common stock will continue to trade on The Nasdaq Capital Market under the symbol “APDN” following the reverse stock split, with a new CUSIP number of 03815U 508. The CUSIP number for the Company’s book entry warrants will not change. After the effectiveness of the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 55.2M to approximately 1.1M. The total authorized number of shares will not be reduced. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise or vesting of the Company’s outstanding stock options, restricted stock units, and warrants, as well as the applicable exercise or conversion prices, and to the number of shares issuable under the Company’s equity incentive plans and other existing agreements. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. There will be no change in the par value of $0.001 per share of the common stock as a result of the reverse stock split.