180 Life Sciences (NASDAQ: ATNF), a clinical-stage biotechnology company, will conduct a reverse stock split of its outstanding shares of common stock. The ratio of the reverse stock split, which is slated to go into effect on Feb. 28 with market open, will be 1-for-19. According to the announcement, the reverse stock split, which was approved by stockholders at the company’s Feb. 16 Special Meeting of Stockholders, will reduce the number of the company’s outstanding common shares from approximately 11.3 million shares to approximately 0.6 million shares. “In connection with the reverse stock split, every 19 shares of the company’s common stock issued and outstanding as of the effective time will be automatically converted into one share of the company’s common stock,” said the company in the press release. “No change will be made to the trading symbol for the company’s shares of common stock or public warrants, ATNF and ATNFW, respectively, in connection with the reverse split. The reverse stock split is part of the company’s plan to regain compliance with the minimum bid price requirement of $1 per share required to maintain continued listing on the NASDAQ Capital Market, among other benefits.”
To view the full press release, visit https://ibn.fm/YsimJ
About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company focused on the development of therapeutics for unmet medical needs in chronic pain, inflammation and fibrosis by employing innovative research and, where appropriate, combination therapy. The company’s current primary focus is a novel program to treat several inflammatory disorders using anti-TNF, or tumor necrosis factor. For more information about the company, visit www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at https://ibn.fm/ATNF
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