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ImmunoCellular Therapeutics (NYSE MKT: IMUC) reverses itself out of a NYSEMKT listing issue

November 16, 2016 2:20pm

… With a reverse stock split of forty (40) shares of into one (1) share; the common will be reduced from 249 M to 25 M which will become effective at 5:00 p.m. ET on 11/18/16.

In addition, the reverse stock split will effect a reduction in the number of shares of common stock issuable upon the exercise of stock options or warrants outstanding immediately prior to the effectiveness of the reverse stock split, with corresponding increases in the exercise prices of such stock options and warrants.

Concurrently, IMUC will effect a one-for-forty reverse split of its listed warrants that are trading on the NYSE MKT under the symbol IMUC.WS, such that every forty (40) listed warrants will be combined into a listed warrant to purchase one (1) share of common stock at an exercise price of $7.68 per share.

The Bottom Line: A common practice for those in trouble as a reverse stock split is intended to enable IMUC to regain compliance with the minimum bid price required for continued listing on the NYSE MKT as well as to provide a sufficient level of authorized shares of common stock available for issuance and increase the acceptability of the Company's common stock to investors.

Historically, share pricing suffers as the sellers … split as well.

The new CUSIP number that will be applicable to IMUC's common stock after the reverse stock split is 452536204. The new CUSIP number that will be applicable to IMUC's listed warrants after the reverse stock split is 452536121.

35 companies, 1 interpreter!

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