SplitApr 27, 2026, 04:33 PM
SCYX Proposes 1-for-5 to 1-for-10 Reverse Stock Split to Maintain Nasdaq Listing
AI Summary
SCYNEXIS, Inc. is seeking stockholder approval for a reverse stock split with a ratio between 1-for-5 and 1-for-10, to be determined by its Board of Directors. The primary purpose is to meet Nasdaq's minimum bid price requirement of $1.00 per share by June 15, 2026, and avoid potential delisting. A Special Meeting of Stockholders is scheduled for May 19, 2026, for this vote, and the Board recommends approval to enhance marketability and liquidity.
Key Highlights
- SCYNEXIS proposes a reverse stock split at a ratio of 1-for-5 to 1-for-10.
- Aims to regain compliance with Nasdaq's $1.00 minimum bid price requirement by June 15, 2026.
- Special Meeting of Stockholders scheduled for May 19, 2026, to vote on the proposal.
- Record date for voting is April 20, 2026, with 79,442,633 shares outstanding.
- Board of Directors recommends stockholders vote "FOR" the Reverse Stock Split Proposal.
- Sodali & Co. retained as proxy solicitation agent for a fee of $14,000.