ENDRA Life Sciences announced that it will be effecting a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will reduce the number of shares of the Company’s common stock outstanding from 63,174,455 shares to approximately 3,158,723 shares, subject to adjustment for the rounding up of fractional shares. The Company is confirming with the Nasdaq Stock Market the effective date of the reverse stock split, when ENDRA’s common stock will begin trading on a split-adjusted basis under the existing trading symbol "NDRA" and a new CUSIP number. The reverse stock split was previously approved by ENDRA’s stockholders at the special meeting of stockholders held on November 29 with the final ratio subsequently determined by the Company’s Board of Directors. The reverse stock split is intended to bring the Company into compliance with Nasdaq’s minimum bid price requirement and is not being done as part of a capital raise.
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