Moleculin Sets 1-for-20 Reverse Split for Tuesday, Oct. 20

Moleculin Biotech plans to combine 20 common shares into one on Oct. 20, a 1-for-20 reverse split expected to reduce its outstanding common shares to about 1.05 million. The change takes effect at 12:01 a.m. ET (04:01 UTC) Tuesday. Trading on the Nasdaq Capital Market is scheduled to reflect the split that day under the MBRX ticker, with CUSIP 60855D 507. Moleculin will pay cash to shareholders owed fractional shares. Moleculin estimates it will have about 1.05 million common shares outstanding after the split, compared with approximately 20.9 million before it. The company will keep its authorized common shares at 500 million and its par value at $0.001 per share. At an Oct. 9 vote, shareholders gave the board authority to choose a reverse-split ratio from 1-for-2 to 1-for-20.

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