March 10, 2017 11:17am
Solved NASDAQ listing issue, reduces shares from 44 M to 14.7 M
It’s a pattern for micro-cap cell therapy companies to gain share pricing investibility, viability and possible sustainability
FCSC will affect a one-for-three reverse stock split of its common stock at 5:00 pm ET Friday, 3/10/17.
The reverse stock split will be affected simultaneously for all outstanding shares of common stock and the ratio determined by the Board will be the same for all outstanding shares of common stock.
The reverse stock split will not reduce the number of authorized shares (150 M) of common stock, or preferred stock.
The Bottom Line: The reverse stock split is intended to increase the per share trading price of FCSC’s common stock to permit regaining compliance with the continued listing requirements of The NASDAQ Capital Market.
As a result of the reverse split, the number of issued and outstanding shares will be adjusted from 44,079,447 shares to approximately 14.7 M shares.
Expect a fall-off as to the pricing of shares trade next week ...