On December 15, 2022 NantHealth, Inc. (NASDAQ-GS: NH), a leading provider of enterprise solutions that help businesses transform complex data into actionable insights, reported that the company has implemented a reverse stock split at a ratio of 1-for-15, which is expected to be effective 5 p.m. Eastern Time (ET) on December 15, 2022 (Press release, NantHealth, DEC 15, 2022, View Source [SID1234625317]). The company’s common stock is expected to begin trading on a split-adjusted basis at commencement of trading on Friday, December 16, 2022. The reverse stock split was approved by NantHealth’s stockholders on August 18, 2022 and is intended to increase the per share trading price of the company’s common stock, which the company expects will satisfy the minimum bid price requirement for continued listing on the Nasdaq Global Select Market (Nasdaq).

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Reverse Stock Split

The reverse stock split will reduce the number of shares of the company’s common stock from approximately 115,550,244 shares to approximately 7,703,350 shares, but will not change the authorized number of shares of common stock, which will remain at 750,000,000 shares. The company’s common stock will continue to trade on Nasdaq under the symbol "NH." In connection with the reverse stock split, the company’s CUSIP number will change to 630104305 as of December 15, 2022 at 5 p.m. ET.

The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Stockholders who otherwise would be entitled to receive a fractional share will instead be entitled to receive cash in lieu of such fractional share from the company’s transfer agent, American Stock Transfer & Trust Company, LLC. 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 the company’s transfer agent regarding their common stock ownership post-reverse stock split.

In addition, pursuant to their terms, a proportionate adjustment will be made to the per share exercise price and number of shares issuable under all of the company’s outstanding equity awards, and the number of shares authorized and reserved for issuance pursuant to the company’s equity incentive plans will be reduced proportionately.