![]() (“Computershare”), UNITY’s transfer agent, is acting as the exchange agent for the reverse stock split. ![]() Stockholders who would otherwise be entitled to receive fractional shares as a result of the reverse stock split will be entitled to a cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled multiplied by the closing sales price of the common stock (as adjusted for the reverse stock split) on the Nasdaq Global Select Market today, the last trading day immediately preceding the effective time of the reverse stock split.Ĭomputershare Trust Company, N.A. No fractional shares will be issued in connection with the reverse stock split. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock. The common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. Proportionate adjustments will be made to the exercise prices and the number of shares underlying UNITY’s outstanding equity awards, as applicable, and warrants exercisable for shares of common stock, as well as to the number of shares issuable under UNITY’s equity incentive plans and certain existing agreements. The reverse stock split will not modify any rights or preferences of the shares of UNITY’s common stock. On October 18, 2022, following the special meeting, the Company’s Board of Directors approved the reverse stock split at the ratio of 1-for-10.Īs a result of the reverse stock split, every 10 shares of UNITY’s common stock issued and outstanding will be automatically reclassified into one new share of common stock. The stockholders of the Company approved a proposal to authorize the Company’s Board of Directors, in its discretion following the special meeting and prior to the Company’s annual meeting of stockholders to be held in 2023, to amend the Company’s amended and restated certificate of incorporation to effect a reverse stock split of the Company’s common stock, whereby each outstanding 6, 7, 8, 9, 10, 11 or 12 shares would be combined, converted and changed into one share of the Company’s common stock, such reverse split ratio to be selected by the Company’s Board of Directors. The reverse stock split was approved by UNITY’s stockholders at a special meeting of stockholders held on October 18, 2022. The CUSIP number for UNITY’s warrants exercisable for shares of common stock will remain unchanged however, the warrants will be impacted by the reverse stock split ratio upon exercise. The new CUSIP number for UNITY’s common stock following the reverse stock split will be 91381U200. The reverse stock split is primarily intended to bring the Company into compliance with the minimum required closing bid price for continued listing on the Nasdaq Global Select Market. UNITY’s common stock is expected to commence trading on a split-adjusted basis when the markets open on October 20, 2022 under the existing trading symbol “UBX.” ![]() The reverse stock split will become effective at 5:00 PM Eastern Time today, October 19, 2022, after close of trading on the Nasdaq Global Select Market. ![]() (“UNITY” or the “Company”) (Nasdaq:UBX), a biotechnology company developing therapeutics to slow, halt or reverse diseases of aging, today announced that its Board of Directors has approved a 1-for-10 reverse stock split of UNITY’s common stock. ![]() 19, 2022 (GLOBE NEWSWIRE) - UNITY Biotechnology, Inc. UBX common stock expected to begin trading on a split-adjusted basis on October 20, 2022 ![]()
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