Athersys Announces 1-for-25 Reverse Stock Split
August 25 2022 - 4:30PM
Business Wire
Athersys, Inc. (Nasdaq: ATHX), a regenerative medicine company
developing MultiStem® (invimestrocel) for critical care
indications, announced today that it will be executing a reverse
stock split of its outstanding shares of common stock at a ratio of
1-for-25 after the close of trading on the Nasdaq Stock Market on
Friday, August 26, 2022. Athersys common stock will begin trading
on a split-adjusted basis when the market opens on Monday, August
29, 2022 under the existing trading symbol “ATHX” and a new CUSIP
number. The reverse stock split was previously approved by Athersys
stockholders at the annual meeting of stockholders held on July 28,
2022, with the final ratio determined by the Company’s Board of
Directors.
When the reverse stock split is effective, every 25 shares of
Athersys common stock issued and outstanding or held as treasury
shares as of the effective date will be automatically combined into
one share of common stock. Outstanding equity-based awards and
other outstanding equity rights will be proportionately adjusted.
No fractional shares will be issued as a result of the reverse
stock split. Stockholders of record otherwise entitled to receive a
fractional share as a result of the reverse stock split will
receive a cash payment in lieu of such fractional shares.
The reverse stock split is primarily intended to bring the
Company into compliance with Nasdaq’s minimum bid price
requirement.
Additional information concerning the reverse stock split can be
found in Athersys’ definitive proxy statement filed with the
Securities and Exchange Commission on July 1, 2022.
About Athersys
Athersys is a biotechnology company engaged in the discovery and
development of therapeutic product candidates designed to extend
and enhance the quality of human life. The Company is developing
its MultiStem® cell therapy product, a patented, adult-derived
"off-the-shelf" stem cell product, initially for disease
indications in the neurological, inflammatory and immune and other
critical care indications and has two ongoing clinical trials
evaluating this potential regenerative medicine product. Investors
and others should note that we may post information about the
Company on our website at www.athersys.com and/or on our accounts
on Twitter, Facebook, LinkedIn or other social media platforms. It
is possible that the postings could include information deemed to
be material information. Therefore, we encourage investors, the
media and others interested in the Company to review the
information we post on our website at www.athersys.com and on our
social media accounts. Follow Athersys on Twitter at
www.twitter.com/athersys. Information that we may post about the
Company on our website and/or on our accounts on Twitter, Facebook,
LinkedIn or other social media platforms may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. You should not place undue reliance on
forward-looking statements contained on our website and/or on our
accounts on Twitter, Facebook, LinkedIn or other social media
platforms, and we undertake no obligation to publicly update
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220825005487/en/
Athersys Ellen Gurley Manager of Corporate Communications
and Investor Relations ir@athersys.com
LHA Investor Relations Tirth T. Patel 212-201-6614
tpatel@lhai.com
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