Bellicum Announces Reverse Stock Split
February 05 2020 - 12:45PM
Bellicum Pharmaceuticals, Inc. (Nasdaq: BLCM) (“Bellicum” or the
“Company”), a leader in developing novel, controllable cellular
immunotherapies for cancers, today announced that the Company
effected a reverse stock split of its issued and outstanding common
stock, at a ratio of 1-for-10. The effective time of the reverse
stock split will be 5 p.m. ET on February 5, 2020. The Company’s
common stock will begin trading on a split-adjusted basis
commencing upon market open on February 6, 2020.
As previously disclosed, at a special meeting of stockholders
held on January 15, 2020, the Company’s stockholders voted to
approve a proposal authorizing the Board of Directors of the
Company to amend the Company’s certificate of incorporation to
effect a reverse stock split and a corresponding reduction in the
authorized shares of the Company’s common stock. On January 27,
2020, the Board of Directors approved a 1-for-10 reverse stock
split.
As a result of the reverse split, each 10 shares of the
Company’s issued and outstanding common stock will be automatically
combined and converted into one issued and outstanding share of
common stock, par value $0.01 per share. The Company’s common stock
will trade under a new CUSIP number, 079481 404, effective February
6, 2020, and remain listed on the Nasdaq Global Market under the
symbol “BLCM”. The reverse stock split reduces the number of shares
of common stock issuable upon the conversion of the Company’s
outstanding shares of preferred stock and the exercise or vesting
of its outstanding stock options, restricted stock units and
warrants in proportion to the ratio of the reverse stock split and
causes a proportionate increase in the conversion and exercise
prices of such preferred stock, stock options and warrants.
No fractional shares of common stock will be issued as a result
of the reverse stock split. Stockholders of record who would
otherwise be entitled to receive a fractional share will receive a
cash payment in lieu thereof. The reverse stock split impacts all
holders of the Company’s common stock proportionally and will not
impact any stockholder’s percentage ownership of the Company common
stock (except to the extent the reverse stock split results in any
stockholder owing only a fractional share).
Bellicum has chosen its transfer agent, American Stock Transfer
& Trust Company, LLC (“AST”), to act as exchange agent for the
reverse stock split. Stockholders owning shares via a bank, broker
or other nominee will have their positions automatically adjusted
to reflect the reverse stock split and will not be required to take
further action in connection with the reverse stock split, subject
to brokers’ particular processes. For those stockholders holding
physical stock certificates, AST will send instructions for
exchanging those certificates for shares held in book-entry form
representing the post-split number of shares. AST can be reached at
(800) 937 5449 or (718) 921 8124.
About Bellicum Pharmaceuticals
Bellicum is a clinical stage biopharmaceutical company striving
to deliver cures through controllable cell therapies. The company’s
next-generation product candidates are differentiated by powerful
cell signaling technologies designed to produce more effective
CAR-T and allogeneic cell therapies. Bellicum’s lead GoCAR-T®
candidate, BPX-601, is designed to be a more efficacious CAR-T cell
product capable of overriding key immune inhibitory mechanisms.
More information about Bellicum can be found at
www.bellicum.com.
Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Bellicum may, in some cases, use
terms such as “predicts,” “believes,” “potential,” “proposed,”
“continue,” “designed,” “estimates,” “anticipates,” “expects,”
“plans,” “intends,” “may,” “could,” “might,” “will,” “should” or
other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. Forward-looking
statements include statements regarding our intentions, beliefs,
projections, outlook, analyses or current expectations concerning,
among other things: statements regarding the expected commencement
of trading of the Company’s post-split common stock. Various
factors may cause differences between Bellicum’s expectations and
actual results as discussed in greater detail under the heading
“Risk Factors” in Bellicum’s filings with the Securities and
Exchange Commission, including without limitation our quarterly
report on Form 10-Q for the three months ended September 30, 2019
and our annual report on Form 10-K the year ended December 31,
2018. Any forward-looking statements that Bellicum makes in this
press release speak only as of the date of this press release.
Bellicum assumes no obligation to update our forward-looking
statements whether as a result of new information, future events or
otherwise, after the date of this press release.
Source: Bellicum Pharmaceuticals
Investors:Robert H. Uhl Managing Director Westwicke IR
858-356-5932 Robert.uhl@westwicke.com
Media: Kate Coyle Senior Vice President Westwicke PR
203-682-8210 kate.coyle@icrinc.com
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