CalciMedica executes 1-for-5 reverse stock split
CalciMedica Inc., a clinical-stage biopharmaceutical company, announced plans to execute a 1-for-5 reverse stock split. The split will take effect at 5:00 p.m. ET on Friday, with trading under the same ticker symbol CALC beginning on Monday. The Nasdaq Capital Market requires the reverse split to maintain the minimum bid price for continued listing.
The company's authorized shares will decrease from 500 million to 100 million, and issued and outstanding shares will drop from approximately 34.5 million to 6.9 million. Stockholders will not experience a change in their percentage ownership, except in cases of fractional shares, which will be compensated in cash. Equiniti Trust Company, LLC will handle the exchange process.
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