Seelos Therapeutics announces 1-for-30 reverse stock split

Seelos Therapeutics announced that its board of directors approved a 1-for-30 a reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on Tuesday, November 28. The reverse stock split will reduce the number of issued and outstanding shares of the company’s common stock from approximately 167.7M to approximately 5.6M. The reverse stock split is intended for the company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market. The company’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on Tuesday, November 28. Following the reverse stock split, the company’s common stock will continue to trade on the Nasdaq Capital Market under the symbol “SEEL” with the new CUSIP number, 81577F208.