STRATA Skin Sciences Announces 1-for-10 Reverse Stock Split
26 Abril 2024 - 4:20PM
STRATA Skin Sciences, Inc. (“STRATA” or the “Company”) (NASDAQ:
SSKN), a medical technology company dedicated to developing,
commercializing, and marketing innovative products for the
treatment of dermatologic conditions, announces that it will effect
a reverse stock split of its outstanding shares of common stock at
a ratio of 1-for-10 that will become effective at 11:59 p.m.
Eastern Time on June 6, 2024. The Company’s common stock will begin
trading on Nasdaq on a split-adjusted basis when the market opens
on June 7, 2024 under the existing symbol, SSKN, and under a new
CUSIP number, 86272A 305. This reverse stock split is primarily
intended to bring the Company into compliance with Nasdaq’s minimum
bid price requirement for continued listing.
“On October 26, 2023, shareholders approved a
proposal for a reverse split between a ratio of 1-for-5 and
1-for-25,” commented STRATA’s President and CEO Dr. Dolev Rafaeli.
“We have until June 6, 2024 for the stock to trade above Nasdaq’s
$1.00 per share minimum bid price rule before we would feel
compelled to move forward with the reverse split. Today’s
announcement of the exact reverse split ratio simply satisfies the
requirement from that shareholder approval that we announce the
proposed reverse split ratio by April 26, 2024.”
Upon effectiveness of the reverse stock split,
every ten shares of the Company’s common stock issued and
outstanding will be automatically combined into one share of common
stock. Outstanding equity-based awards and other equity rights will
be proportionately adjusted. No fractional shares will be issued as
a result of the reverse stock split. Stockholders who would
otherwise hold a fractional share as a result of the reverse stock
split will receive an amount of cash equal to the product of
(i) the fractional share to which the holder would otherwise
be entitled and (ii) the closing price per share on the
trading day immediately preceding the effective time of the reverse
stock split (as adjusted to give effect to the reverse stock
split), without interest.
The reverse stock split will affect all
stockholders uniformly and will not alter any stockholder’s
percentage interest in the Company’s equity. Stockholders of record
will be receiving information from Equiniti (formerly known as
American Stock Transfer), the Company’s transfer agent, regarding
their stock ownership following the reverse stock split.
Stockholders who hold their shares in brokerage
accounts or in “street name” will have their positions
automatically adjusted to reflect the reverse stock split, subject
to such broker’s particular processes, and will not be required to
take any action in connection with the reverse stock split.
Additional information concerning the reverse stock split can be
found in the Company’s definitive proxy statement filed
with the U.S. Securities and Exchange Commission on September 25,
2023.
About STRATA Skin Sciences, Inc.STRATA Skin
Sciences is a medical technology company dedicated to developing,
commercializing, and marketing innovative products for the
in-office treatment of various dermatologic conditions, such as
psoriasis, vitiligo, and acne. Its products include the
XTRAC® excimer laser, VTRAC® lamp systems, and the
TheraClear®X Acne Therapy System.STRATA is proud to offer these
exciting technologies in the U.S. through its unique Partnership
Program. STRATA’s popular partnership approach includes a fee per
treatment cost structure versus an equipment purchase, installation
and use of the device, on-site training for practice personnel,
service and maintenance of the equipment, dedicated account and
customer service associates, and co-op advertising support to help
raise awareness and promote the program within the practice.
Safe HarborThis press release includes
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995. These statements include but are not
limited to the Company’s plans, objectives, expectations and
intentions and may contain words such as “will,” “may,” “seeks,”
and “expects,” that suggest future events or trends. These
statements, the Company’s ability to launch and sell products
recently acquired or to be developed in the future, the Company’s
ability to develop social media marketing campaigns, direct to
consumer marketing campaigns, and the Company’s ability to build a
leading franchise in dermatology and aesthetics, are based on the
Company’s current expectations and are inherently subject to
significant uncertainties and changes in circumstances. Actual
results may differ materially from the Company’s expectations due
to financial, economic, business, competitive, market, regulatory,
adverse market conditions labor supply shortages, or supply chain
interruptions resulting from fiscal, political factors,
international conflicts, responses, or conditions affecting the
Company, the medical device industry and our customers and patients
in general, as well as more specific risks and uncertainties set
forth in the Company’s SEC reports on Forms 10-Q and 10-K. Given
such uncertainties, any or all these forward-looking statements may
prove to be incorrect or unreliable. The statements in this press
release are made as of the date of this press release, even if
subsequently made available by the Company on its website or
otherwise. The Company does not undertake any obligation to update
or revise these statements to reflect events or circumstances
occurring after the date of this press release. The Company urges
investors to carefully review its SEC disclosures available
at www.sec.gov and www.strataskinsciences.com.
Investor Contact:CORE
IR516-222-2560IR@strataskin.com
Strata Skin Sciences (NASDAQ:SSKN)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Strata Skin Sciences (NASDAQ:SSKN)
Gráfica de Acción Histórica
De May 2023 a May 2024