Perspective Therapeutics Announces 1-for-10 Reverse Stock Split
11 Junio 2024 - 6:00AM
Perspective Therapeutics, Inc. (“Perspective” or “the Company”)
(NYSE AMERICAN: CATX), a radiopharmaceutical company that is
pioneering advanced treatment applications for cancers throughout
the body, today announced that it will effect a 1-for-10 reverse
stock split, effective at 4:01 p.m. Eastern time on June 14, 2024.
Beginning with the opening of trading on June 17, 2024,
Perspective’s common stock is expected to begin trading on the NYSE
American on a split-adjusted basis under the existing trading
symbol “CATX” and new CUSIP number 46489V302.
At Perspective’s annual meeting of stockholders
on May 31, 2024, Perspective’s stockholders approved a proposal to
authorize Perspective’s Board of Directors to file an amendment to
the Company’s certificate of incorporation to effect the reverse
stock split at a ratio of 1-for-10. The reverse stock split will be
effected by filing a Certificate of Amendment to Perspective’s
certificate of incorporation with the Secretary of State of the
State of Delaware.
As a result of the reverse stock split, each 10
shares of the Company’s issued and outstanding common stock will be
automatically combined and converted into one issued and
outstanding share of common stock, resulting in the number of
outstanding shares of Perspective’s common stock being reduced from
approximately 674.3 million to approximately 67.4 million
immediately following the effectiveness of the reverse stock
split.
The reverse split will affect all issued and
outstanding shares of Perspective’s common stock. The reverse split
will not reduce the total number of authorized shares of the
Company’s common stock or preferred stock, or change the par values
of the Company’s common stock or preferred stock. The reverse split
will affect all stockholders uniformly and will not affect any
stockholder’s ownership percentage of the Company’s shares of
common stock (except to the extent that the reverse split would
result in some of the stockholders receiving cash in lieu of
fractional shares). Stockholders will receive cash in lieu of
fractional shares based on the closing price per share of the
common stock as reported on the NYSE American on June 14, 2024 (as
adjusted to give effect to the reverse split).
All outstanding options and warrants entitling
their holders to purchase shares of the Company’s common stock will
be adjusted as a result of the reverse split, in accordance with
the terms of each such security. In addition, the number of shares
reserved for future issuance pursuant to the Company’s equity
incentive plans will also be appropriately adjusted.
Computershare Trust Company, N.A.
(“Computershare”) is acting as the exchange agent and transfer
agent for the reverse stock split. Computershare will provide
instructions to stockholders with physical certificates regarding
the process for exchanging their pre-split stock certificates for
post-split shares in book-entry form and receiving payment for any
fractional shares.
Additional information regarding the reverse
stock split can be found in the Company’s definitive proxy
statement filed with the Securities and Exchange Commission on
April 18, 2024, which is available free of charge on the SEC’s
website at www.sec.gov and on the Company’s website at
www.perspectivetherapeutics.com.
About Perspective Therapeutics,
Inc.Perspective Therapeutics, Inc., is a
radiopharmaceutical development company that is pioneering advanced
treatment applications for cancers throughout the body. The Company
has proprietary technology that utilizes the alpha emitting isotope
212Pb to deliver powerful radiation specifically to cancer cells
via specialized targeting peptides. The Company is also developing
complementary imaging diagnostics that incorporate the same
targeting peptides, which provide the opportunity to personalize
treatment and optimize patient outcomes. This "theranostic"
approach enables the ability to see the specific tumor and then
treat it to potentially improve efficacy and minimize toxicity.
The Company's melanoma (VMT01) and
neuroendocrine tumor (VMT-α-NET) programs have entered Phase 1/2a
imaging and therapy trials for the treatment of metastatic melanoma
and neuroendocrine tumors at several leading academic institutions.
The Company has also developed a proprietary 212Pb generator to
secure key isotopes for clinical trial and commercial
operations.
For more information, please visit the Company's
website at www.perspectivetherapeutics.com.
Safe Harbor StatementThis press
release contains forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995.
Statements in this press release that are not statements of
historical fact are forward-looking statements. Words such as
“may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,”
“intend,” “target,” “project,” “estimate,” “believe,” “predict,”
“potential” or “continue” or the negative of these terms or other
similar expressions are intended to identify forward-looking
statements, though not all forward-looking statements contain these
identifying words. Forward-looking statements in this press release
include statements concerning, among other things, the reverse
split and the timing thereof and expectations related thereto; and
other statements that are not historical fact.
The Company may not actually achieve the plans,
intentions or expectations disclosed in the forward-looking
statements and you should not place undue reliance on the
forward-looking statements. These forward-looking statements
involve risks and uncertainties that could cause the Company’s
actual results to differ materially from the results described in
or implied by the forward-looking statements. Some factors that may
cause the Company’s actual results to differ materially from those
expressed or implied in the forward-looking statements in this
press release are described under the heading “Risk Factors” in the
Company’s most recent Annual Report on Form 10-K and Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission (the “SEC”), in the Company’s other filings with the
SEC, and in the Company’s future reports to be filed with the SEC
and available at www.sec.gov. Forward-looking statements contained
in this news release are made as of this date. Unless required to
do so by law, we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Perspective Therapeutics IR:
Annie Cheng
ir@perspectivetherapeutics.com
Russo Partners, LLC
Nic Johnson / Adanna G. Alexander, Ph.D.
PerspectiveIR@russopr.com
Perspective Therapeutics (AMEX:CATX)
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