July 27, 2016 9:34am

Reduces the number of shares of CLBS’ stock outstanding from 59 M shares pre-reverse split to 5.9 M shares of common stock post-reverse split

 


 

CLBS as of 5:00 p.m., ET, on July 27, 2016 it will effect a 1-for-10 reverse stock split of its outstanding common stock, which will be effective for trading purposes as of the commencement of trading on Thursday, July 28, 2016.

The reverse stock split is intended to increase the per share trading price of the Company's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market.

 

The Bottom Line: The reverse stock split reduces the number of shares of CLBS’ common stock outstanding from approximately 59 M shares of common stock pre-reverse split to approximately 5.9 M shares of common stock post-reverse split. Be ready for an offering … SELL and RUN

CLBS closed at $0.58 which was UP +$0.04. Another “downer” for shareholders during the tenure of CEO David Mazzo who assumed the role at a share price at $3.75. With his new employment agreement with a 15 month severance, stakeholders are again holding the bag”