Panbela Therapeutics, Inc. announced the completion of a 1-for-20 reverse stock split, effective as of January 18, 2024. The reverse split was authorized by stockholders during a special meeting on December 19, 2023, and was implemented to reduce the number of issued and outstanding shares of common stock. As a result, every 20 shares of existing common stock were automatically converted into one share, with the par value per share remaining unchanged. The company's common stock continued to trade on the Nasdaq Stock Market under the symbol 'PBLA' post-split. No fractional shares were issued; instead, shareholders will receive cash in lieu of fractional shares. The reverse split also led to proportionate adjustments in all outstanding equity awards and warrants, as well as the...Show More

Panbela Therapeutics, Inc. announced the completion of a 1-for-20 reverse stock split, effective as of January 18, 2024. The reverse split was authorized by stockholders during a special meeting on December 19, 2023, and was implemented to reduce the number of issued and outstanding shares of common stock. As a result, every 20 shares of existing common stock were automatically converted into one share, with the par value per share remaining unchanged. The company's common stock continued to trade on the Nasdaq Stock Market under the symbol 'PBLA' post-split. No fractional shares were issued; instead, shareholders will receive cash in lieu of fractional shares. The reverse split also led to proportionate adjustments in all outstanding equity awards and warrants, as well as the number of shares available under the company's equity incentive plans. Following the reverse split, approximately 480,244 shares of common stock were outstanding, and the new CUSIP number for the common stock is 69833W404. VStock Transfer is the exchange agent managing the reverse split process. Further details regarding the reverse split can be found in the company's definitive proxy statement filed with the SEC on November 24, 2023.