Tevogen to Execute 50-for-1 Reverse Stock Split on March 6
Tevogen’s board approved a 50-for-1 reverse stock split effective March 6, 2026 to satisfy the Nasdaq Global Market’s $1.00 minimum bid price requirement. Common shares, equity awards, warrants and preferred conversions will be adjusted proportionally with no fractional shares issued, and cash payments made in lieu of fractions.
1. Reverse Split Approval and Details
On March 4, 2026 Tevogen’s board approved a 50-for-1 reverse stock split, effective at 12:01 a.m. on March 6, 2026. Every 50 shares of common stock will be automatically converted into one share under the existing ticker with a new CUSIP.
2. Equity and Fractional Share Adjustments
The split will uniformly adjust outstanding shares, equity awards, warrants, and preferred stock conversion ratios. No fractional shares will be issued; holders entitled to fractions will receive cash payments in lieu of fractional shares.
3. Nasdaq Listing Compliance Objective
The reverse split is designed to restore compliance with the Nasdaq Global Market’s $1.00 minimum bid price requirement, ensuring continued listing status without impacting total stockholders’ equity or ownership percentages, aside from the treatment of fractional shares.