180 Life Sciences Corp. has announced a 1-for-19 reverse stock split of its common stock, effective as of 12:01 A.M. Eastern Time on February 28, 2024. The reverse stock split was approved by the company's Board of Directors following authorization from the company's stockholders to amend the Second Amended and Restated Certificate of Incorporation. This move aims to comply with the Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. Prior to the split, the company's common stock was trading below the Nasdaq's minimum $1.00 requirement. The reverse stock split will reduce the number of outstanding shares from approximately 11.3 million to approximately 0.6 million. No fractional shares will be issued; stockholders who would have received a...Show More

180 Life Sciences Corp. has announced a 1-for-19 reverse stock split of its common stock, effective as of 12:01 A.M. Eastern Time on February 28, 2024. The reverse stock split was approved by the company's Board of Directors following authorization from the company's stockholders to amend the Second Amended and Restated Certificate of Incorporation. This move aims to comply with the Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. Prior to the split, the company's common stock was trading below the Nasdaq's minimum $1.00 requirement. The reverse stock split will reduce the number of outstanding shares from approximately 11.3 million to approximately 0.6 million. No fractional shares will be issued; stockholders who would have received a fractional share will receive one whole share instead. The company's common stock will continue to trade on Nasdaq under the symbol 'ATNF'. In related news, the company has also reported the exercise of pre-funded warrants resulting in the issuance of 1,111,878 shares of common stock. Additionally, a judge has granted a Motion for Partial Summary Judgment in favor of 180 Life Sciences in a lawsuit involving the company's insurance carriers, which may lead to the advancement of defense costs related to SEC subpoenas.