Brickell Biotech (BBI) Announces 1-For-45 Reverse Stock Split

Brickell Biotech, Inc. (“Brickell” or the “Company”) (Nasdaq: BBI), a clinical-stage pharmaceutical company striving to transform patient lives by developing innovative and differentiated prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases, today announced that at the special meeting of stockholders held on June 30, 2022, the Company’s stockholders approved a reverse stock split of the Company's common stock at a ratio between 1-to-10 and 1-to-45, as determined by the Board of Directors of the Company. Following the special meeting, the Board of Directors determined to effect a 1-for-45 reverse stock split that will become effective on July 5, 2022. The Company's common stock will begin trading on a split-adjusted basis at the opening of the market on July 5, 2022, under a new CUSIP number, 10802T 204.

The 1-for-45 reverse stock split will reduce the number of outstanding shares of Company common stock from approximately 121.1 million shares to approximately 2.7 million shares. Proportional adjustments will be made to the number of shares of Brickell’s common stock subject to outstanding equity awards and warrants, as well as the applicable exercise price.

The purpose of the 1-for-45 reverse stock split is to raise the per-share trading price of the Company's common stock, which is intended to result in its regaining compliance with the $1.00 per share minimum bid price requirement for continuous listing on The Nasdaq Capital Market.

You May Also Be Interested In

• Cohen & Steers and DLC acquire Virginia grocery shopping center
• Synchrony partners with OpenAI to integrate AI into shopping
• Pluri's Ever After Foods acquires Fishway, raises $2M