Soligenix Announces 1-for-16 Reverse Stock Split

(RTTNews) - Friday, Soligenix, Inc. (SNGX) announced its plan to conduct a 1-for-16 reverse stock split of its common stock.

Following the split, trading will commence on a split-adjusted basis as of the market opening on Thursday, June 6, 2024.

During the reverse stock split, every 16 shares of Soligenix's common stock currently in circulation will be consolidated into one share, maintaining the same par value per share. This change will impact all stockholders equally and will not modify any individual's ownership percentage in the company.

The company stated that due to the reverse stock split, its outstanding common shares would decrease from 15,799,837 shares to approximately 987,490 shares, accounting for potential adjustments due to fractional shares.