NEW YORK, NY - January 14, 2025 - Odonate, Inc. today announced that it will effect a 1-for-8 reverse stock split of its authorized, issued and outstanding common stock, effective 12:01 a.m. Eastern Time, on January 15, 2025 (the "Split Effective Time"). Odonate's common stock will trade on a split-adjusted basis under the symbol "ODTCD" for 20 business days, including the effective date, after which it will revert to "ODTC." The new CUSIP number is 676079403.
Odonate's board of directors has approved the reverse stock split, and Odonate has amended its articles of incorporation to reduce its authorized shares of common stock from 3,000 to 375.
No fractional shares will be issued in connection with the reverse stock split. Odonate has instructed its transfer agent to pay stockholders who otherwise would have been entitled to receive fractional shares of common stock an amount in cash of $22,679 per pre-split share of common stock, which represents the fair value established by the board of directors.
Stockholders need not take any action in connection with the reverse stock split and are encouraged to contact their bank, broker or custodian with any procedural questions.
Odonate's board of directors has approved the reverse stock split, and Odonate has amended its articles of incorporation to reduce its authorized shares of common stock from 3,000 to 375.
No fractional shares will be issued in connection with the reverse stock split. Odonate has instructed its transfer agent to pay stockholders who otherwise would have been entitled to receive fractional shares of common stock an amount in cash of $22,679 per pre-split share of common stock, which represents the fair value established by the board of directors.
Stockholders need not take any action in connection with the reverse stock split and are encouraged to contact their bank, broker or custodian with any procedural questions.
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