Ritter Pharmaceuticals, Inc.’s Board Approves 1-for-10 Reverse Stock Split
2018年3月2日 - 6:20AM
Ritter Pharmaceuticals, Inc. (NASDAQ: RTTR) (“Ritter
Pharmaceuticals” or the “Company”), a leading developer of novel
therapeutic products that modulate the gut microbiome to treat
gastrointestinal diseases with an initial focus on establishing the
first FDA-approved treatment for lactose intolerance, today
announced that its Board of Directors (the “Board”) has set a ratio
of 1-for-10 for its previously approved reverse stock split of its
common stock, and an anticipated effective date for the reverse
stock split of on or before March 23, 2018. The reverse stock split
was approved by the Company’s stockholders at its special meeting
of stockholders on December 20, 2017, where the Company’s
stockholders granted to the Board the authority to amend the
Company’s Amended and Restated Certificate of Incorporation, as
amended, to effect a reverse stock split of the outstanding shares
of the Company’s common stock, at a ratio of 1-for-8 to 1-for-15,
as determined by the Board.
No fractional shares will be issued as a result
of the reverse stock split. Stockholders who otherwise would be
entitled to receive a fractional share in connection with the
reverse stock split will receive a cash payment in lieu of such
fractional share. Corporate Stock Transfer, Inc. will act as
exchange agent for the reverse stock split.
About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc.
(www.RitterPharma.com, @RitterPharma) develops novel therapeutic
products that modulate the gut microbiome to treat gastrointestinal
diseases. Its lead product, RP-G28, has the potential to become the
first FDA-approved treatment for lactose intolerance, a condition
that affects millions worldwide. The Company is further exploring
the functionality and discovering the therapeutic potential gut
microbiome changes may have on treating/preventing a variety of
conditions including: gastrointestinal diseases, immuno-oncology,
metabolic, and liver disease.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding the anticipated
effective date for the reverse stock split. Management believes
that these forward-looking statements are reasonable as and when
made. However, such statements involve a number of known and
unknown risks and uncertainties that could cause the Company’s
future results, performance or achievements to differ significantly
from the results, performance or achievements expressed or implied
by such forward-looking statements. For a discussion of certain
risks and uncertainties affecting Ritter Pharmaceuticals’
forward-looking statements, please review the Company’s reports
filed with the Securities and Exchange Commission, including, but
not limited to, its Annual Report on Form 10-K for the period ended
December 31, 2016 and Quarterly Reports on Form 10-Q for the
periods ended March 31, 2017 and June 30, 2017. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
These statements are based on management’s current expectations and
Ritter Pharmaceuticals does not undertake any responsibility to
revise or update any forward-looking statements contained herein,
except as expressly required by law.
Contact
Jeffrey S. Benjamin
310-203-1000
jeffrey@ritterpharma.com
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