Summary by Futu AI
TransCode Therapeutics announced a 1-for-33 reverse stock split, effective December 4, 2024, aimed at maintaining Nasdaq Capital Market listing compliance. The split will automatically convert 33 current shares into one new share, reducing outstanding shares from approximately 17.3 million to 523,202 shares.The reverse split, approved by stockholders on November 22, 2024, will affect all shareholders uniformly with fractional shares rounded up to the nearest whole number. The company's common stock will continue trading under the symbol "RNAZ" with a new CUSIP number 89357L 402. Proportional adjustments will be made to outstanding stock options and warrants.Vstock Transfer LLC will serve as the exchange agent for the split. Stockholders holding shares through banks or brokers will have their positions automatically adjusted, though processes may vary by institution. The total authorized shares of common stock will remain unchanged.