Alliqua BioMedical (ALQA) said Thursday it will effect a reverse stock split of its issued and outstanding common stock at an exchange ratio of 1-for-10, after the close of business on Oct. 5.
As a result of the reverse stock split, there will be approximately 4.9 million shares of common stock outstanding.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share.
Any fractional share of a stockholder resulting from the reverse stock split will be rounded up to the next whole number of shares.
Shares rose more than 4% in the after-hours session.