CORRECTING and REPLACING Great Basin Announces Effectiveness of Reverse Stock Split of Common Stock
September 16 2016 - 11:53AM
Business Wire
Company has 1.0 million shares of common stock
outstanding post-split
First paragraph, second sentence of release should read: The
Company’s common stock will begin trading at the open of today’s
market on a split-adjusted basis under new CUSIP number 39013L601
(instead of ... new CUSIP number 39013L502).
The corrected release reads:
GREAT BASIN ANNOUNCES EFFECTIVENESS OF
REVERSE STOCK SPLIT OF COMMON STOCK
Company has 1.0 million shares of common stock
outstanding post-split
Great Basin Scientific, Inc. (Nasdaq:GBSN), a molecular
diagnostics company, announced today that it has effected a
1-for-80 reverse split of its common stock, par value $0.0001. The
Company’s common stock will begin trading at the open of today’s
market on a split-adjusted basis under new CUSIP number 39013L601.
The reverse split reduced the number of shares outstanding from
78.4 million to approximately 1.0 million.
The reverse stock split impacts all holders of the Company’s
common stock uniformly, and does not affect any stockholder’s
percentage ownership interest in the Company or proportionate
voting power.
Additional information regarding Great Basin’s reverse stock
split is available in the definitive proxy statement filed by the
Company with the U.S. Securities and Exchange Commission on August
22, 2016.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that
commercializes breakthrough chip-based technologies. The Company is
dedicated to the development of simple, yet powerful,
sample-to-result technology and products that provide fast,
multiple-pathogen diagnoses of infectious diseases. The Company's
vision is to make molecular diagnostic testing so simple and
cost-effective that every patient will be tested for every serious
infection, reducing misdiagnoses and significantly limiting the
spread of infectious disease. More information can be found on the
Company's website at www.gbscience.com.
Forward-Looking Statements
This press release includes forward-looking statement regarding
events, trends and business prospects, which may affect our future
operating results and financial position, including but not limited
to statements regarding the timing and effect of the reverse stock
split and statements regarding the Company’s general development
plans of sample-to-result technology and products. Forward-looking
statements involve risks and uncertainties, which could cause
actual results to differ materially, and reported results should
not be considered as an indication of future performance. These
risk and uncertainties include, but are not limited to: (i) our
limited operating history and history of losses; (ii) our ability
to develop and commercialize new products and the timing of
commercialization; (iii) our ability to obtain capital when needed;
and (iv) other risks set forth in the Company's filings with the
Securities and Exchange Commission, including the risks set forth
in the company's Annual Report on Form 10-K for the year ended
December 31, 2015 and Quarterly Report on Form 10-Q for the quarter
ended June 30, 2016. These forward-looking statements speak only as
of the date hereof, and Great Basin Scientific specifically
disclaims any obligation to update these forward-looking
statements, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160916005106/en/
Investor Relations:Great Basin ScientificBetsy Hartman,
385-215-3372ir@gbscience.comorMedia:ICRNirav Suchak,
646-277-1257Nirav.Suchak@icrinc.com