Bright Minds Biosciences Inc. (NASDAQ:DRUG) is going for a consolidation of its common shares on a five-to-one basis, a plan approved by the company's board of directors in June.
The new arrangement is expected to increase the next-generation psychedelics developer's attractiveness to investors as well as provide a path to regain compliance with NASDAQ's minimum bid price requirement, a situation Bright Minds has faced since Jan. 27.
The company is not the only one to have been unable to achieve the market's price requirement in the past months. Others include Reunion Neuroscience -about to go private- and, more recently, Israeli company Clearmind Medicine.
As reported, Bright Minds currently has 18,860,359 common shares issued and outstanding and, following the consolidation completion, will have approximately 3,772,071 total common shares, with exercise price and number of common shares issuable upon outstanding options and warrants to be proportionally adjusted.
No fractional shares will be issued upon the consolidation, so entitled shareholders will receive a rounded (up or down, as corresponds) number of common shares.
Post-consolidation shares are expected to begin trading on both Nasdaq and SEC on July 14 under the same company name and trading symbol, with CUSIP number 10919W405 and new ISIN number CA10919W4056.
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Bright Minds Biosciences Inc. (NASDAQ:DRUG)將按5:1的比例合併其普通股,該計劃已於6月份獲得公司董事會批准。
預計這項新安排將增加下一代迷幻藥開發商對投資者的吸引力,併爲重新遵守納斯達克的最低出價要求提供途徑,Bright Minds自1月27日以來一直面臨這種情況。
該公司並不是過去幾個月中唯一一家無法達到市場價格要求的公司。其他包括 留尼旺神經科學 -即將私有化-最近還有一家以色列公司 Clearmind 醫學。
據報道,Bright Minds目前已發行和流通普通股18,860,359股,合併完成後,普通股總數將約爲3,772,071股,行使價和已發行期權和認股權證的普通股數量將按比例調整。
合併後不會發行部分股份,因此有資格的股東將獲得四舍五入(相應的向上或向下)的普通股數量。
合併後的股票預計將於7月14日在納斯達克和美國證券交易委員會開始交易,公司名稱和交易代碼相同,CUSIP編號爲 10919W405,新的ISIN編號爲 CA10919W4056。
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