Indaptus Therapeutics board approves 1-for-28 reverse stock split

Indaptus Therapeutics (INDP) announced that its Board of Directors has approved a one-for-twenty eight reverse stock split of its common stock that is scheduled to become effective after trading closes on June 26, 2025. Beginning on June 27, 2025, the Company’s common stock will trade on the Nasdaq Capital Market on a split adjusted basis under a new CUSIP number 45339J 204. The Company’s common stock will continue to trade on the Nasdaq Capital Market under the symbol “INDP.” As previously disclosed, at the Indaptus Therapeutics 2025 Annual Meeting of Stockholders held on June 10, 2025, the Company’s stockholders approved a proposal authorizing the Company’s Board of Directors, among other things, to effect a reverse stock split at a ratio in the range of 1-for-5 and 1-for-28 in order to increase the per share price and bid price of the Company’s common stock to regain compliance with the continued listing requirements of Nasdaq and make the common stock more attractive to certain institutional investors, which would provide for a stronger investor base. Upon effectiveness of the reverse stock split, every 28 shares of the Company’s outstanding common stock will be converted to one share of common stock. In addition, a proportionate adjustment will be made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding options and warrants entitling the holders to purchase common stock.