Anebulo Pharmaceuticals plans reverse stock split to go private

Anebulo Pharmaceuticals Inc. (NASDAQ: ANEB) announced its board of directors approved a plan for a reverse stock split that would terminate the company's registration as a public reporting company.

The clinical-stage pharmaceutical company said the reverse stock split would occur at a ratio between 1-for-2,500 and 1-for-7,500, with the exact ratio to be determined by the board. The transaction requires stockholder approval and is subject to other conditions.

Under the proposed structure, stockholders holding fewer than 2,500 to 7,500 shares, depending on the final ratio chosen, would receive $3.50 per pre-split share in cash and would not remain stockholders after the transaction. The $3.50 price represents a 91% premium over the company's closing stock price on July 22, 2025.

Stockholders owning more than the minimum threshold would continue to hold one share of post-split common stock for every minimum number of pre-split shares owned, plus cash for any fractional shares.

The Austin, Texas-based company stated it is pursuing the transaction because the costs of being a public reporting company have become too burdensome relative to its strategy to develop product candidates and reduce operating costs.

Anebulo develops treatments for acute cannabis-induced toxic effects. Its lead product candidate, selonabant, completed a Phase 2 clinical trial and the company is currently scaling up an intravenous formulation for initial clinical safety studies targeting pediatric patients.

The board may abandon the proposed reverse stock split if it determines the transaction is no longer in the best interests of the company or its stockholders. The company has filed preliminary proxy materials with the SEC and will hold a special stockholder meeting to vote on the proposal.

You May Also Be Interested In

• Matinas BioPharma to merge with GH Power, sell drug unit to Azurity
• Advance Auto Parts (AAP) files mixed shelf
• Tower Semiconductor plans $3B Japan expansion for photonics capacity