PolyMedix Announces Results Of Special Meeting, Effective Date Of Reverse Stock Split
RADNOR, Pa., March 15, 2013 (GLOBE NEWSWIRE) -- PolyMedix, Inc. (OTCBB:PYMX), a biotechnology company developing small-molecule drugs designed to mimic the activity of host defense proteins (HDPs) for the treatment of infectious diseases and innate immune disorders, today announced that its stockholders voted overwhelmingly to approve a reverse stock split of the company's common stock at a ratio of up to fifty-for-one. The company's board of directors subsequently fixed the reverse stock split ratio at fifty-for-one and fixed the record date for the reverse stock split.
The fifty-for-one reverse stock split of PolyMedix's common stock will take effect at 5:00 p.m. ET on Friday, March 15, 2013. The Company's common stock will begin trading on a post-split basis on Monday, March 18, 2013. Stockholders at the effective time will receive one new share of common stock for every fifty shares that they hold. PolyMedix will not issue any fractional shares as a result of the reverse split. Instead, PolyMedix stockholders who otherwise would have been entitled to a fraction of a share will receive a full share of common stock.
The primary purposes for the reverse stock split are to increase the per share price of the company's common stock to meet the listing requirements of The NASDAQ Stock Market and to facilitate a public offering of up to $25 million of common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.PolyMedix's stockholders also approved a reduction of the number of authorized shares of common stock from 250,000,000 to 25,000,000. The offering of the shares will be made under the company's shelf registration statement, which was previously filed with, and declared effective by, the Securities and Exchange Commission. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010 or email: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV