GeoVax Labs (GOVX) has released an update to notify the public and investors about corporate charter and bylaws modifications.
GeoVax Labs, Inc. implemented a 1-for-15 reverse stock split, consolidating every fifteen shares of existing Common Stock into one share of new Common Stock, without changing shareholders’ percentage ownership or voting power, aside from minor adjustments due to fractional rounding. The reverse stock split also triggered an adjustment in the company’s publicly-traded warrants, requiring fifteen warrants to purchase one share of common stock at $75 each. Additionally, the company reduced its authorized shares of common stock from 600,000,000 to 150,000,000 and maintained its total authority to issue 160,000,000 shares, divided into 150,000,000 shares of Common Stock and 10,000,000 shares of preferred stock.
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For a comprehensive understanding of the announcement, you can read the full document here.
