Propanc Biopharma files draft information statement for reverse stock split
PPCB•Propanc Biopharma filed a draft information statement for a reverse stock split authorized by shareholders within a range of 1-for-2 to 1-for-10. The company is targeting effectiveness after Nasdaq processes and approves the split.
1. Proposed share count changes
At 1-for-2, the share count would drop from about 10,331,116 to about 5,165,558; at 1-for-10, it would fall to about 1,033,112. Outstanding options or warrants, if any, would be adjusted to keep total exercise cost roughly unchanged, and fractional shares would be rounded up.
