Cellectar Biosciences announces 1-for-30 reverse stock split

Cellectar Biosciences (CLRB) announced a one-for-thirty reverse stock split of the company’s common stock, par value $0.00001, which will become effective on Tuesday, June 24. The company’s common stock will continue to trade under its current trading symbol, CLRB, on Nasdaq on a split-adjusted basis when the market opens on Tuesday, June 24, with the new CUSIP number 15117F880. As a result of the Reverse Stock Split, every 30 shares of the company’s pre-split common stock issued and outstanding will be automatically reclassified into one new share of the company’s common stock. The Reverse Stock Split will reduce the number of shares of common stock issued and outstanding from 54,361,197 shares to approximately 1,812,040. There will be no change to the number of authorized shares or the par value per share. The Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest. As a result of the Reverse Stock Split, the number of shares of common stock available for issuance under the company’s equity incentive plans will be proportionately affected.