Aclarion, Inc. has taken a significant step towards ensuring its compliance with Nasdaq's listing standards by announcing a 1-for-335 reverse stock split, set to take effect before the market opens on Thursday, January 30, 2025. This decision, ratified by stockholders on December 31, 2024, through an amendment to the company's Certificate of Incorporation, is a strategic move to boost the stock's per-share price above the $1.00 threshold mandated by Nasdaq's Minimum Bid Price Rule.
The reverse stock split will consolidate every 335 shares of Aclarion's common stock into a single share, drastically reducing the number of outstanding shares from approximately 169.4 million to about 500,000. This adjustment is not limited to common stock; it extends to outstanding warrants, stock options, and restricted stock units, with conversion and exercise prices being adjusted proportionally in line with the company's equity incentive plans.
For investors, the process will be seamless for those holding shares in brokerage accounts, as their holdings will be automatically adjusted. Shareholders with physical stock certificates will receive specific instructions from Vstock Transfer, Aclarion's transfer agent, on how to exchange their shares. Notably, the company will not issue fractional shares, opting instead to round up holdings for stockholders with fewer than 335 shares to one whole share.
Following the reverse stock split, Aclarion will be issued a new CUSIP number (655187300), and its stock is expected to commence trading on a split-adjusted basis on the effective date. This financial strategy highlights Aclarion's dedication to preserving its Nasdaq listing and potentially bolstering the stock's appeal to investors by aligning its share price more closely with market expectations.
