SANUWAVE Health, Inc. (OTCQB: SNWV), a leader in next-generation FDA-approved wound care products, has taken a decisive step to restructure its stock by announcing a 1-for-375 reverse stock split. This strategic move, effective at 12:01 a.m. Mountain Time on October 18, 2024, aims to consolidate the company's outstanding common stock from approximately 1,181,272,961 shares to about 3,150,062, thereby increasing the stock price and potentially broadening its investor appeal.
The reverse stock split will see every 375 shares of SANUWAVE's common stock combined into one share, maintaining each stockholder's percentage interest in the company, except for fractional shares which will be settled in cash. This adjustment is designed to ensure fairness and simplicity for all investors. Additionally, proportional adjustments will be made to outstanding equity awards, convertible notes, and warrants to preserve the rights and obligations of security holders.
For investors holding physical stock certificates, the process for exchanging shares will be facilitated by Securities Transfer Corporation (STC), SANUWAVE's transfer agent. STC will serve as the exchange agent for the reverse stock split, providing necessary guidance and support to stockholders.
This corporate action represents a critical juncture for SANUWAVE, potentially enhancing the stock's marketability and liquidity. While reverse splits can sometimes be perceived negatively, the success of this initiative hinges on SANUWAVE's ability to demonstrate continued growth and innovation in the regenerative medicine sector. The company's focus on developing non-invasive biological response-activating medical systems underscores its commitment to advancing healthcare solutions.
Investors seeking further information on the reverse stock split can consult the Company's 2024 Consent Solicitation Statement, available through SANUWAVE's investor relations website and the SEC's EDGAR database. This move underscores SANUWAVE's strategic efforts to strengthen its market position and appeal to a wider investor base amidst the competitive landscape of regenerative medicine.
