Latest news with #reverseStockSplit
Yahoo
18-06-2025
- Business
- Yahoo
Why KULR Technology Stock Is Plummeting Today
After the market closed last Friday, KULR announced that it will carry out a reverse stock split. KULR will implement an 8-for-1 reverse stock split on June 23. The reverse split will help KULR keep trading on its current exchange, but some investors are seeing negative signs in the move. 10 stocks we like better than KULR Technology Group › KULR Technology (NYSEMKT: KULR) stock is getting hit with huge selling action in Monday's trading. The company's share price was down 21.3% as of 3 p.m. ET, despite the S&P 500 (SNPINDEX: ^GSPC) being up 0.9% at the same point in the day's trading. KULR is seeing a big valuation pullback today following news that the company will carry out a reverse stock split. The new structure for the stock won't do anything to alter the fundamentals of the business, but investors are dumping shares ahead of the 8-for-1 reverse split that will take effect on June 23. After surging late in 2024's trading, KULR stock has seen big sell-offs this year. The company's share price is down roughly 74.5% year to date. As a result of the big valuation pullback, KULR's share price is currently below the $1 threshold necessary to continue trading on the NYSE-American Market. By announcing the reverse stock split before its shares had been trading below the threshold for a significant amount of time, KULR may also be able to avoid new rules from the New York Stock Exchange approved earlier this year that make it more difficult to use reverse splits to remain in compliance. KULR's reverse stock split will take effect next Monday and will result in the equivalent of eight existing shares being combined into one new share. The move will have the effect of boosting the company's share price, but it won't alter the fundamentals of the business. Continuing to trade on the NYSE-American Market exchange is probably a good thing for KULR over the long term because it will continue to make the stock easily available for a wide range of investors. On the other hand, it's not hard to see why some investors are reacting negatively to the reverse stock-split news. Reverse splits often occur because a company and its stock are struggling, and they can also limit some of the potential for explosive short-term gains that some investors may be seeking with penny stocks. Before you buy stock in KULR Technology Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and KULR Technology Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why KULR Technology Stock Is Plummeting Today was originally published by The Motley Fool
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Onconetix, Inc. Announces 1-for-85 Reverse Stock Split and Results of the Special Meeting of Stockholders
CINCINNATI, Ohio, June 11, 2025 (GLOBE NEWSWIRE) -- Onconetix, Inc. (NASDAQ: ONCO) ('Onconetix' or the 'Company'), a commercial-stage biotechnology company focused on the research, development, and commercialization of innovative solutions for men's health and oncology, today announced that the Company's stockholders have approved a proposal to effect a reverse split, which was voted on at the Company's 2025 special meeting of stockholders (the 'Special Meeting') held on May 30, 2025, and that its Board of Directors (the 'Board of Directors' or 'Board') approved a 1-for-85 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on June 13, 2025. Results of the Special Meeting At the Special Meeting, Onconetix's stockholders approved the following proposals: an amendment to the Onconetix, Inc. Amended and Restated Certificate of Incorporation to effect a reverse stock split of all of the outstanding shares of the Company's common stock, par value $0.00001 per share, at a ratio in the range of 1-for-10 to 1-for-150, at any time prior to the one-year anniversary date of the Special Meeting, with such ratio to be determined by the Board without further approval or authorization of the stockholders; and the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the Reverse Stock Split Proposal. (the 'Adjournment Proposal'). Final voting results from the Special Meeting were reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission (the 'SEC') on June 5, 2025. Reverse Stock Split In conjunction with stockholder approval of the reverse stock split, the Company's Board of Directors determined to fix a split ratio of 1-for-85 shares. The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on June 13, 2025. Following the reverse stock split, the Company's common stock will continue to trade on The Nasdaq Capital Market under the symbol 'ONCO' under the new CUSIP number 68237Q203. The reverse stock split is intended to enable the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on The Nasdaq Capital Market. At the effective time of the reverse split, every 85 issued and outstanding shares of the Company's common stock will be converted automatically into one share of the Company's common stock without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be canceled with the holders thereof receiving cash compensation. The amount of compensation will be determined by multiplying the fractional share by the closing price per share of the Company's common stock on The Nasdaq Capital Market at the close of business on the trading day prior to the effective date of the reserve stock split, or June 12, 2025. The reverse split will have no effect on the number of authorized shares of the Company's common stock, and the ownership percentage of each stockholder will remain unchanged other than as a result of fractional shares. The reverse stock split will additionally apply to the Company's common stock issuable upon exercise or conversion of the Company's equity awards, convertible preferred stock and warrants, as well as the applicable exercise price. The reverse stock split will reduce the number of outstanding shares of the Company's common stock from approximately 44.4 million to approximately 521,863. About Onconetix, Inc. Onconetix, Inc. is a commercial-stage biotechnology company focused on the research, development, and commercialization of innovative solutions for men's health and oncology. The Company owns Proclarix, an in vitro diagnostic test for prostate cancer originally developed by Proteomedix and approved for sale in the European Union under the In Vitro Diagnostic Regulation. The Company also owns ENTADFI, an FDA-approved, once-daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia, a disorder of the prostate. For more information, visit Forward-Looking Statements Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as 'anticipate,' 'believe,' 'forecast,' 'estimate,' 'expect,' and 'intend,' among others. These forward-looking statements (including, without limitation, statements regarding the timing and effectiveness of the anticipated reverse split and compliance with applicable Nasdaq continued listing requirements) are based on Onconetix's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, market and other conditions; whether the Company will be able to regain and maintain compliance with Nasdaq's applicable listing criteria and the effect of a delisting from Nasdaq on the market for the Company's securities; whether a definitive agreement for the proposed transaction with Ocuvex Therapeutics, Inc. ('Ocuvex') and any related financing will be entered into; whether such transactions, or any other contemplated transaction, may be completed with different terms, in an untimely manner, or not at all; whether the Company will be able to realize the benefits of a proposed transaction with Ocuvex; Onconetix's ability to integrate the assets and commercial operations contemplated to be acquired from Ocuvex into the Company's business; risks related to Onconetix's ability to commercialize or monetize Proclarix and integrate the assets and commercial operations; risks related to the Company's present need for capital to commercially launch Proclarix and have adequate working capital; risks related to Onconetix's ability to attract, hire and retain skilled personnel necessary to commercialize and operate the Company's commercial products; the failure to obtain and maintain the necessary regulatory approvals to market and commercialize Onconetix's products; risks related to the Company's ability to obtain and maintain intellectual property protection for its current products; and the Company's reliance on third parties, including manufacturers and logistics companies. As with any commercial-stage pharmaceutical product or any product candidate under clinical development, there are significant risks in the development, regulatory approval and commercialization of biotechnology products. Onconetix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in Onconetix's Annual Report on Form 10-K, filed with the SEC on June 2, 2025 and periodic reports filed with the SEC on or after the date thereof. All of Onconetix's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. For more information: Onconetix, Inc. 201 E. Fifth Street, Suite 1900 Cincinnati, OH 45202 Phone: (513) 620-4101 Investor Contact Information:
Associated Press
02-06-2025
- Business
- Associated Press
ClearOne, Inc. Announces 1-for-15 Reverse Stock Split
SALT LAKE CITY--(BUSINESS WIRE)--Jun 2, 2025-- At a special meeting of stockholders held on May 30, 2025 (the 'Special Meeting') of ClearOne, Inc. (NASDAQ: CLRO), the Company's stockholders approved a proposal to authorize a reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share (the 'Common Stock') by a ratio of between 1-for-10 and 1-for-15. On May 21, 2025, the Company had previously announced that the Company expected to effect a 1-for-15 reverse stock split with a market effective date of June 3, 2025. Today the Company announced that the Company will effect a 1-for-15 reverse stock split of the Company's issued and outstanding Common Stock (the 'Reverse Stock Split') effective at 5:00 p.m. Eastern time on June 9, 2025 (the 'Effective Time'). The Company's Common Stock will begin trading on a reverse stock split adjusted basis on The Nasdaq Capital Market at market open on June 10, 2025. The Company's Board of Directors has approved the 1-for-15 reverse split ratio and has filed with the Delaware Secretary of State a Certificate of Amendment to its Certificate of Incorporation to effect the Reverse Stock Split at the Effective Time. The Reverse Stock Split is primarily intended to increase the Company's per share market price of its Common Stock to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The Company's common stock will continue to trade on The Nasdaq Capital Market under the trading symbol 'CLRO,' but will trade under the following new CUSIP number: 18506U203. As a result of the Reverse Stock Split, every 15 shares of the Company's issued and outstanding Common Stock will be automatically combined into one new share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Any fraction of a share resulting from the Reverse Stock Split will be converted to one whole share of Common Stock in lieu of such fractional shares. The par value per share of Common Stock will remain unchanged at $0.001. Proportional adjustments will be made to the number of shares of Common Stock issuable upon the exercise of the Company's outstanding stock options and warrants, and the number of shares authorized and reserved for issuance pursuant to the Company's equity incentive plans. The Reverse Stock Split will not alter stockholders' percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in fractional ownership as described above. The Reverse Stock Split will not change the authorized number of shares of the Company's common stock, and will reduce the number of issued and outstanding shares of the Company's Common Stock from approximately 26.0 million to approximately 1.7 million. The Company's transfer agent, Colonial Stock Transfer, will serve as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders who hold their shares in brokerage accounts or in 'street name' will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Stockholders holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Colonial Stock Transfer with instructions as soon as practicable after the Effective Time. About ClearOne ClearOne is a global company that designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at View source version on CONTACT: Investor Relations Contact: Simon Brewer 385-426-0565 [email protected] KEYWORD: UTAH UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: AUDIO/VIDEO VOIP MOBILE/WIRELESS TECHNOLOGY TELECOMMUNICATIONS SOURCE: ClearOne, Inc. Copyright Business Wire 2025. PUB: 06/02/2025 09:00 AM/DISC: 06/02/2025 08:59 AM
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Vaxart's Founder and Chief Scientific Officer Provides Video Update to Stockholders
Dr. Sean Tucker, Founder and CSO of Vaxart, Urges Stockholders to Vote FOR Reverse Stock Split Proposal by 11:59 p.m. Eastern Time on June 1, 2025 Company Corrects Record on Common Misconceptions Regarding the Reverse Stock Split Proposal SOUTH SAN FRANCISCO, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- Vaxart, Inc. (Nasdaq: VXRT) (the 'Company' OR 'Vaxart') today announces a video update for stockholders by Dr. Sean Tucker. The video is available on Vaxart's investor relations website at In the video, Dr. Tucker urges stockholders to vote FOR Proposal No. 2, which grants the Board of Directors authority to implement a reverse split that would enable Vaxart regain compliance with Nasdaq's minimum bid price rule. Additionally, to ensure stockholders have accurate information as they consider this important proposal, the Company addresses several misconceptions in the attached fact sheet: A PDF accompanying this announcement is available at Vaxart encourages all stockholders of record on March 26, 2025 who have not yet voted to do so by 11:59 p.m. Eastern Time on June 1, 2025. The Company also reminds those who have previously voted against Proposal No. 2 that they can change their vote in favor of the proposal. If you have any questions or need assistance with voting, please contact Vaxart's proxy solicitation firm: Campaign Management, LLC Toll-Free: 1-855-264-1527 Email: info@ About Vaxart Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart's development programs currently include pill vaccines designed to protect against coronavirus, norovirus and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart's first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists. Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), which are subject to the 'safe harbor' created by those sections, concerning our business, operations, and financial performance and condition as well as our plans, objectives, and expectations for business operations, funding, financial performance and condition, and regaining compliance with the Nasdaq minimum bid price requirement. Any statements contained herein that are not of historical facts may be deemed to be forward-looking statements. You can identify these statements by words such as 'anticipate,' 'assume,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'should,' 'will,' 'would,' and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about our business and the industry in which we operate and management's beliefs and assumptions and are not guarantees of future performance or development and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this press release may turn out to be inaccurate. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, those risks and uncertainties described under 'Item 1A - Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024 and any risk factors disclosed in any subsequent Quarterly Reports on Form 10-Q. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are based on information available to us as of the date of this press release. Unless required by law, we do not intend to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise. You should, however, review the factors and risks we describe in the reports we will file from time to time with the SEC after the date of this press release. Participants in the Solicitation The Company and its directors, executive officers, and certain employees and other persons may be deemed to be participants in the solicitation of proxies from the Company's stockholders in connection with the business to be conducted at the annual meeting of stockholders. Investors and security holders may obtain more detailed information regarding the names, affiliations, and interests of the Company's directors and executive officers in the definitive proxy statement filed in connection with the annual meeting of stockholders as well as the Company's other filings with the U.S. Securities and Exchange Commission (the 'SEC'), all of which may be obtained free of charge at the website maintained by the SEC at This press release was published by a CLEAR® Verified individual.
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Houston American Energy Corp. Announces 1-for-10 Reverse Stock Split
HOUSTON, TX, May 28, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) ('HUSA' or the 'Company') announced today that its Board of Directors approved a reverse stock split of the Company's common stock at a ratio of 1-for-10. The reverse stock split is intended to increase the market price per share of the Company's common stock and help the Company satisfy the initial listing requirements of the New York Stock Exchange American (the 'NYSE') in connection with the closing of HUSA's previously announced acquisition of Abundia Global Impact Group, LLC ('AGIG'). On April 24, 2025, at the Company's special meeting of stockholders, the Company's stockholders approved a reverse stock split of the Company's common stock at a ratio in the range of 1-for-5 to 1-for-60, with such ratio to be determined by the Company's Board of Directors. The reverse stock split is expected to be effective after market close on June 6, 2025 (the 'Effective Time') and the Company's common stock will begin trading on a split-adjusted basis on the NYSE at the market open on June 9, 2025. At the Effective Time, every 10 issued and outstanding shares of the Company's common stock will be converted into one share of the Company's common stock. Once effective, the reverse stock split will reduce the number of issued and outstanding shares of common stock from approximately 15,686,533 to approximately 1,568,653 shares. Each stockholder's percentage ownership interest in the Company will remain unchanged as a result of the reverse stock split. No fractional shares shall be issued in connection with the reverse stock split, and any fractional shares resulting from the reverse stock split will be rounded up at the participant level with The Depository Trust Company. Each certificate that immediately prior to the Effective Time represented shares of common stock shall thereafter represent that number of shares of common stock into which the shares of common stock represented by the certificate shall have been combined, subject to the elimination of fractional share interests as described above. Holders of the Company's common stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from Standard Registrar & Transfer Co., Inc., the Company's transfer agent, regarding their stock ownership following the reverse stock split. The reverse stock split will not modify any rights or preferences of the Company's common stock. The trading symbol for the Company's common stock will remain 'HUSA.' The new CUSIP number for the Company's common stock following the reverse stock split will be 44183U 308. Additional information about the reverse stock split can be found in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission (the 'SEC') on April 11, 2025, a copy of which is also available at or at under the SEC Filings tab located in the Reports and Filings page. About HUSA HUSA is an independent oil and gas company focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties. Our principal properties, and operations, are in the U.S. Permian Basin. Additionally, we have properties in the Louisiana U.S. Gulf Coast region. For more information, please visit: Important Information About the Proposed Acquisition and Where to Find It This press release relates to the previously announced proposed acquisition of Abundia Global Impact Group, LLC ('AGIG'), pursuant to the share exchange agreement, dated as of February 20, 2025, by and among HUSA and AGIG (the 'Proposed Acquisition'). For additional information on the Proposed Acquisition, see HUSA's Current Report on Form 8-K, filed on February 24, 2025, as well as the proxy statement dated April 11, 2025, that was delivered to HUSA's stockholders as of the applicable record date established for voting on the Proposed Acquisition. HUSA also will file other documents regarding the Proposed Acquisition with the SEC. Investors and stockholders of HUSA are urged to carefully read the entire proxy statement and any other relevant documents filed with the SEC, as well as any amendments or supplements thereto, because they will contain important information about the Proposed Acquisition. The documents filed by HUSA with the SEC may be obtained free of charge at the SEC's website at or by directing a request to HUSA at 801 Travis Street, Suite 1425, Houston, Texas 77002. Cautionary Note Regarding Forward-Looking Information: This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking information') within the meaning of, and subject to the safe harbor created by, Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995, which are referred to as the 'safe harbor provisions.' Statements contained or incorporated by reference in this press release that are not historical facts are forward-looking statements, including statements regarding HUSA's or AGIG's business and future financial and operating results, and other aspects of HUSA's or AGIG's operations or operating results. Words such as 'may,' 'should,' 'will,' 'believe,' 'expect,' 'anticipate,' 'target,' 'project,' and similar phrases that denote future expectations or intent regarding HUSA's or AGIG's financial results, operations, and other matters are intended to identify forward-looking statements that are intended to be covered by the safe harbor provisions. Investors are cautioned not to rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause future events to differ materially from the forward-looking statements in this press release including: risks relating to fluctuations of the market value of common stock, including as a result of uncertainty as to the long-term value of the common stock of HUSA or as a result of broader stock market movements; the occurrence of any event, change, or other circumstances that could give rise to the termination of the Share Exchange Agreement; failure to attract, motivate and retain executives and other key employees; disruptions in the business of HUSA or AGIG, which could have an adverse effect on their respective businesses and financial results; the unaudited pro forma combined consolidated financial information in the proxy statement is presented for illustrative purposes only and may not be reflective of the operating results and financial condition of the combination of HUSA and AGIG; and other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the proxy statement, as well as HUSA's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and other documents filed by HUSA from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. HUSA does not undertake to update, alter, or revise any forward-looking statements made in this report to reflect events or circumstances after the date of this report or to reflect new information or the occurrence of unanticipated events, except as required by law.
