Split Envisioned to be Successful for Investing Needs as of Market place Open on April 19, 2022
CHARLOTTESVILLE, Va., April 18, 2022 (World NEWSWIRE) — Diffusion Prescribed drugs Inc. (NASDAQ: DFFN) (“Diffusion” or the “Company”), a biopharmaceutical enterprise producing novel therapies that improve the body’s capacity to deliver oxygen to places where it is wanted most, these days introduced that it will influence a 1-for-50 reverse inventory split of its popular inventory. The reverse inventory split is envisioned to turn into effective at 5:59 p.m. Jap Time on April 18, 2022, and the Company’s frequent stock is expected to commence buying and selling on the Nasdaq Funds Sector on a submit-break up basis at the opening of the sector on April 19, 2022, pending confirmation by the Depository Rely on Corporation and Nasdaq. The prevalent inventory will continue on to trade under the Company’s current trading symbol, “DFFN,” and the new CUSIP number for the common stock pursuing the reverse stock split will be 253748 404.
Diffusion expects that the reverse stock break up, which was authorised by the Company’s stockholders at a exclusive meeting earlier today, will boost the price for every share of the Company’s popular inventory, and is component of the Company’s tactic to regain compliance with the $1.00 least bid selling price requirement of the Nasdaq Capital Market.
At the powerful time of the reverse stock break up, every fifty (50) shares of Diffusion’s issued, and outstanding frequent inventory will be instantly transformed into a person (1) issued and exceptional share of typical inventory with out any adjust in the par price of $.001 per share or the complete selection of authorized shares. The reverse stock split will decrease the Company’s variety of shares superb prevalent stock from about 102 million shares to about 2 million shares. No fractional shares of widespread stock will be issued in link with the reverse inventory break up, and stockholders who would normally be entitled to receive a fractional share will get a money payment in lieu thereof. Proportional changes will also be produced to the training charges and quantity of shares of popular stock issuable on the exercise of Diffusion’s inventory choices, limited stock models, and warrants superb at the powerful time, as relevant.
Additional information and facts pertaining to the reverse inventory break up is accessible in the Firm’s definitive proxy statement at first submitted with the U.S. Securities and Trade Fee on March 28, 2022, as amended.
Data for Diffusion Stockholders
The Firm has retained an affiliate of its transfer agent, Computershare Have confidence in Enterprise, N.A. (“Computershare”), to act as the trade agent for the reverse inventory split. Computershare will present stockholders of record holding certificates symbolizing pre-split shares of the Company’s common inventory as of the productive date with a letter of transmittal offering guidance for the exchange of stock certificates for submit-split shares. Registered stockholders holding pre-split shares of the Firm’s widespread stock electronically in guide-entry sort are not required to choose any motion to receive submit-break up shares. Stockholders possessing shares by means of a broker or other nominee will have their positions routinely altered to replicate the reverse stock split, subject to the broker’s or nominee’s specific treatments for processing the reverse inventory break up.
If you have any inquiries about the trade system, Computershare can be attained at 800-368-5948.
About Diffusion Prescribed drugs Inc.
Diffusion Prescribed drugs Inc. is a biopharmaceutical enterprise creating novel therapies that increase the body’s means to supply oxygen to areas where it is essential most. Diffusion’s lead product or service applicant, TSC, is staying developed to enrich the diffusion of oxygen to tissues with low oxygen ranges, also recognized as hypoxia, a severe complication of many of medicine’s most intractable and hard-to-treat disorders, such as hypoxic sound tumors. For more details, be sure to pay a visit to us at www.diffusionpharma.com.
This push launch involves express and implied ahead-on the lookout statements in just the this means of the Private Securities Litigation Reform Act of 1995, as amended, like with regards to the timing of performance of the reverse inventory split and the effect of the reverse stock split on the sector price tag for the Company’s typical inventory. The Firm may well, in some situations, use phrases this sort of as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately,” or other terms that express uncertainty of future gatherings or results to determine these forward-on the lookout statements. Even though the Organization thinks that it has a realistic foundation for every ahead-looking assertion contained herein, forward-searching statements by their nature include dangers and uncertainties, regarded and not known, several of which are further than the Company’s management and, as a final result, the Company’s actual final results could differ materially from individuals expressed or implied in any forward-wanting statement. Particular chance and uncertainties contain, between other items, all those relevant to: the Company’s skill to preserve compliance with the continued listing standards of Nasdaq normal financial, political, small business, business, and market problems, including the ongoing COVID-19 pandemic and the other factors talked over underneath the heading “Risk Factors” in the Company’s most the latest Yearly Report on Type 10-K and other filings with the U.S. Securities and Trade Commission. Any ahead-looking statements in this push launch communicate only as of the day hereof (or such earlier day as might be identified) and, except as necessary by relevant legislation, rule, or regulation, the Company undertakes no obligation to update any this kind of statements right after the date hereof.