On July 21, 2022 Cellectar Biosciences, Inc. (Nasdaq: CLRB), a late-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted treatments for cancer, reported that, as authorized by its stockholders, the Company is implementing a consolidation (reverse stock split) of its outstanding Common Shares on the basis of one (1) new Common Share for every ten (10) currently outstanding (Press release, Cellectar Biosciences, JUL 21, 2022, View Source [SID1234616845]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
As of July 22, 2022, the Company will have approximately 6.1 million shares outstanding. The number of authorized shares and the par value per share will remain unchanged.
The new Common Shares will be effective for trading purposes as of the commencement of trading on Friday, July 22, 2022, and will trade under CUSIP number 15117F807. The Company’s ticker symbol, CLRB, will remain unchanged. The Company has amended its Certificate of Incorporation to effect the stock consolidation.
Proportionate voting rights and other rights of common stockholders will not be affected by the reverse stock split, other than as a result of the cashing out of fractional shares. Stockholders who would otherwise hold a fractional share will receive a cash payment in lieu of the fractional share. The number of outstanding options and warrants will be adjusted accordingly. Please direct any questions you might have regarding the reverse split to your broker or the company’s stock transfer agent, American Stock Transfer & Trust Company, by calling (800) 937-5449 (domestic), or (718) 921-8317 (international).