Genprex (GNPX) Announces 1:40 Reverse Stock Split

Genprex, Inc. (NASDAQ: GNPX) today announced that on February 2, 2024, the Company will implement a 1-for-40 reverse split of its issued and outstanding common stock, par value $0.001 per share. The reverse stock split will be effective as of 12:01 a.m. Eastern Time on February 2, 2024, and the Company's common stock will trade on a post-split adjusted basis at the beginning of trading on the same date under the existing trading symbol "GNPX." The CUSIP number for the Company's common stock following the reverse stock split will be 372446-203.

The Company's Board of Directors (the "Board") approved implementation of the reverse stock split upon the authorization granted by the Company's stockholders at the special meeting held on December 14, 2023, whereby the Company's stockholders granted the Company's Board the discretion to effect a reverse stock split at a ratio of not less than one-for-ten (1:10) and not more than one-for-fifty (1:50), with such ratio to be determined by the Board. The reverse stock split is intended to increase the market price per share of the Company's common stock to regain compliance with the minimum bid continued listing requirement of The Nasdaq Capital Market. All outstanding securities entitling their holders to purchase shares of common stock or acquire shares of common stock of the Company, including stock options and warrants, will be adjusted as a result of the reverse stock split, as required by the terms of those securities.

As a result of the reverse stock split, every 40 shares of common stock issued and outstanding as of the effective date will be automatically combined into one share of common stock. No fractional shares will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will automatically be entitled to the rounding up of the fractional share to the nearest whole share. The reverse stock split will not change the par value of the common stock or modify the rights or preferences of the common stock. Immediately after the reverse stock split becomes effective, the Company will have approximately 1.5 million shares of common stock issued and outstanding. The reverse split affects all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse split would result in some stockholders owning a fractional share as described above. The Company's transfer agent, VStock Transfer, LLC, will continue to maintain the book-entry records for the Company's common stock. Registered stockholders holding pre-split shares of the Company's common stock electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to such broker's particular processes and procedures; if you hold your shares with such a broker, bank trust or other nominee and if you have questions in this regard, you are encouraged to contact your nominee.

You May Also Be Interested In

• Greenland Mines announces 1-for-50 reverse split, field updates
• Callan JMB unit to acquire Reger Oil's Williston Basin assets
• Profusa reports Q2 2026 loss, advances G3 Vision Labs deal