Ritter Pharmaceuticals Announces 1-for-10 Reverse Stock Split
2018年3月23日 - 12:35AM
Ritter Pharmaceuticals, Inc. (NASDAQ: RTTR) (“Ritter
Pharmaceuticals” or the “Company”), a developer of novel
therapeutic products that modulate the gut microbiome to treat
gastrointestinal diseases with an initial focus on the development
of the first FDA-approved treatment for lactose intolerance, today
announced a 1-for-10 reverse split of its Common Stock, par value
$0.001 per share (the “Common Stock”), effective tomorrow, March
23, 2018 (the “Effective Date”). The reverse stock split was
approved by the Company’s stockholders at a special meeting of
stockholders held on December 20, 2017. The specific 1-for-10 ratio
was subsequently announced by the Company’s Board of Directors on
March 1, 2018. The Company has filed a certificate of amendment to
its amended and restated certificate of incorporation with the
Secretary of the State of Delaware to effect the reverse stock
split.
The Common Stock will begin trading on the NASDAQ Stock Market
on a split-adjusted basis when the market opens on the Effective
Date. Each ten (10) shares of Common Stock issued and outstanding
immediately prior to the Effective Date will automatically be
reclassified, without any action of the holder thereof, into one
share of Common Stock, without any change in par value per share.
The reverse stock split will affect all shares of the Company’s
Common Stock outstanding immediately prior to the market opening on
the Effective Date, as well as the number of shares of Common Stock
available for issuance under the Company’s 2015 Equity Incentive
Plan. In addition, the reverse stock split will affect a reduction
in the number of shares of common stock issuable upon the exercise
of stock options and warrants, and upon the conversion of the
Company’s Series A Convertible preferred stock. As a result of the
reverse stock split, the number of issued and outstanding shares of
Common Stock will be reduced from approximately 49,406,521 to
approximately 4,940,652.
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. is acting as exchange agent for the
Reverse Stock Split and will send instructions to stockholders of
record who hold stock certificates regarding the exchange of their
old certificates for new certificates, should they wish to do so.
Stockholders who hold their shares in brokerage accounts or “street
name” are not required to take any action to effect the exchange of
their shares. The CUSIP number for the new Common Stock outstanding
after the reverse stock split is 767836 307. Corporate Stock
Transfer, Inc. can be reached at (877) 309-2764 or online.
About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc. (www.RitterPharma.com,
@RitterPharma) develops novel therapeutic products that modulate
the gut microbiome to treat gastrointestinal diseases. The
Company’s lead product candidate, RP-G28, has the potential to
become the first FDA-approved treatment for lactose intolerance, a
condition that affects millions worldwide. RP-G28 has been studied
in Phase 2 trials and is now ready to commence Phase 3 clinical
development. 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 may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that express the current beliefs and expectations of Ritter
Pharmaceuticals’ management, including statements regarding the
effectiveness of the reverse stock split. Any statements contained
herein that do not describe historical facts are forward-looking
statements that are subject to risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from those discussed in such forward-looking statements.
Factors that could affect our actual results are included in the
periodic reports on Form 10-K and Form 10-Q that we file with the
Securities and Exchange Commission. These forward-looking
statements are made only as of the date hereof, and the Company
undertakes no obligation to update or revise the forward-looking
statements, except as otherwise required by law, whether as a
result of new information, future events or otherwise.
Contact
Jeffrey S. Benjamin
310-203-1000
jeffrey@ritterpharma.com
Ritter Pharmaceuticals (NASDAQ:RTTR)
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