PMGC Holdings to implement 1-for-10 reverse stock split Thursday
Newspaper reports PMGC Holdings Inc., a diversified holding company, will execute a 1-for-10 reverse stock split on Thursday at midnight Eastern time. Each 10 shares of current common stock will be combined into one, with the trading symbol ELAB remaining the same but acquiring a new CUSIP number. Shareholders receiving fractional shares will be given a complete share for each fraction.
Outstanding awards, vested options, reserved shares for the equity incentive plan, and warrants will also be reduced in the same ratio. PMGC Holdings anticipates around 8.1 million shares outstanding before the split, dropping to approximately 809,584 post-split. Shareholders with physical certificates can convert them via VStock Transfer, LLC, the company’s transfer agent.
The reverse split does not alter the total shareholder equity value but lowers the number of shares while proportionally adjusting the share price.
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