NetworkNewsBreaks — Longeveron Inc. (NASDAQ: LGV

NetworkNewsBreaks — Longeveron Inc. (NASDAQ: LGVN) Board Approves 1-for-10 Reverse Stock Split

Longeveron (NASDAQ: LGVN), a clinical-stage biotechnology company developing regenerative medicines for unmet medical needs, has announced a 1-for-10 reverse split of the company’s Class A common stock. The move was approved by the company’s board of directors during a special stockholder meeting. According to the announcement, the reverse split will become effective at 11:59 p.m. ET on March 26, 2024. Following that, the company’s Class A common stock will begin trading on the NASDAQ Capital Market on a split-adjusted basis. “The reverse split is intended to increase the per share trading price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on the NASDAQ Capital Market,” said the company in the press release. “The reverse split will automatically convert every 10 current shares of the company’s common stock, whether issued and outstanding or held by the company as treasury stock, into one share of fully paid and nonassessable common stock.”

NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://nnw.fm/LGVN

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer