Tenax Therapeutics announces 1-for-80 reverse stock split

Tenax Therapeutics, will be executing a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-80. The reverse stock split will become effective at 5:00 pm Eastern Time on January 2, 2024. The Company’s common stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis beginning upon market open on January 3, 2024, under the Company’s existing trading symbol “TENX“. The reverse stock split was previously approved by the Company’s stockholders at a special meeting of stockholders held on November 30, 2023, with the final ratio 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. The new CUSIP number following the reverse stock split will be 88032L605. As a result of the reverse split, every 80 shares of Company common stock will be automatically combined into one share of Company common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest in the Company’s equity, except for minor changes to the treatment of fractional shares as described below. The reverse stock split will reduce the number of shares of common stock issued and outstanding from 23,862,434 to approximately 292,281.