On July 8, 2024, Clene Inc. filed a Certificate of Amendment to effectuate a 1-for-20 reverse stock split of its common stock, which was set to take place at 12:01 a.m. Eastern Time on July 11, 2024. The reverse stock split was approved by stockholders at the Annual Meeting on May 29, 2024, and later determined by the Board of Directors to be at the specific 1-for-20 ratio. This action will reduce the number of issued and outstanding shares from approximately 128.7 million to about 6.4 million. The reverse stock split is intended to help Clene regain compliance with Nasdaq's minimum bid price requirement. Stockholders will not receive fractional shares but will be compensated with cash based on the closing price of Clene's common stock on...Show More

On July 8, 2024, Clene Inc. filed a Certificate of Amendment to effectuate a 1-for-20 reverse stock split of its common stock, which was set to take place at 12:01 a.m. Eastern Time on July 11, 2024. The reverse stock split was approved by stockholders at the Annual Meeting on May 29, 2024, and later determined by the Board of Directors to be at the specific 1-for-20 ratio. This action will reduce the number of issued and outstanding shares from approximately 128.7 million to about 6.4 million. The reverse stock split is intended to help Clene regain compliance with Nasdaq's minimum bid price requirement. Stockholders will not receive fractional shares but will be compensated with cash based on the closing price of Clene's common stock on the day preceding the Effective Date. The reverse stock split will not alter the number of authorized shares or the par values of common and preferred stock. All stock options, warrants, and other securities will be adjusted accordingly. Clene's common stock will begin trading on a split-adjusted basis under a new CUSIP number on July 11, 2024. The company's press release on July 9, 2024, provided additional details on the reverse stock split and its implications for stockholders and the company's capital structure.