Pluri Inc. Announces 1-for-8 Reverse Share Split
After giving effect to the reverse share split of the Company’s Common Shares, each eight (8) Common Shares will be combined into one Common Share, such that the Company’s 41,816,959 Common Shares outstanding will be reduced to approximately 5,227,120 Common Shares outstanding (the “Reverse Share Split”).
- After giving effect to the reverse share split of the Company’s Common Shares, each eight (8) Common Shares will be combined into one Common Share, such that the Company’s 41,816,959 Common Shares outstanding will be reduced to approximately 5,227,120 Common Shares outstanding (the “Reverse Share Split”).
- No fractional shares will be issued as a result of the reverse split as any fractional shares resulting from the reverse split will be rounded up to the nearest whole share on a per shareholder basis.
- No additional Company or shareholder approval is required because both the number of authorized Common Shares and the number of outstanding Common Shares will be proportionally reduced as a result of the Reverse Share Split, the Reverse Share Split will not adversely affect any other class of shares of the Company and the Company will not pay money or issue scrip to shareholders who would otherwise be entitled to receive a fractional share as a result of the reverse split.
- The reverse split will not impact any shareholder's percentage ownership of Pluri or voting power, except for minimal effects resulting from the treatment of fractional shares.