Lunai Bioworks to implement 10:1 reverse stock split

Lunai Bioworks (RENB) has approved a 10:1 reverse stock split of its issued and outstanding common stock, par value $0.0001 per share to be effective 12:01 a.m. ET on September 30. The common stock will trade on Nasdaq under the symbol “LNAI” following the reverse stock split, with a new CUSIP number of 29350E 203. The company expects its common stock to open for trading on a post-split basis on Nasdaq as of the commencement of trading on September 30. The reverse stock split is intended to bring the company into compliance with the minimum bid price requirement for continued listing on Nasdaq. The reverse stock split is expected to reduce the number of shares of the company’s common stock outstanding on or about September 30 from approximately 231,780,434 shares to approximately 23,178,096 shares. The reverse stock split will not affect the number of authorized shares of common stock.