The Reverse Stock Split Will Take Effect
November 9, 2022 at 4:01 p.m. ET
ENGLEWOOD, Colo., Nov. 8, 2022
/PRNewswire/ -- Ampio Pharmaceuticals, Inc. (NYSE American/OTC
Pink: AMPE), announced today that effective November 9, 2022 at 4:01
p.m. Eastern Time, the Company will amend its certificate of
incorporation to implement a fifteen-to-one reverse stock
split.
As a result of the reverse stock split, every fifteen shares of
common stock issued and outstanding automatically will be combined
into one share of common stock, with no change in the $0.0001 par value per share. No fractional shares
will be outstanding following the reverse stock split. Holders of
fractional shares will be entitled to receive the number of shares
rounded up to the next whole number. Immediately prior to the
reverse stock split, the Company had 226,286,867 shares of common
stock outstanding, which will be proportionately reduced to reflect
the fifteen-to-one reverse stock split.
The reverse stock split will not change the number of authorized
shares under the Company's certificate of incorporation, which will
continue to consist of 310,000,000 shares authorized, of which
10,000,000 shares are designated as preferred stock and 300,000,000
shares are designated as common stock.
The Company is implementing the reverse stock split in order to
attempt to increase the per share price of its common stock as part
of its strategy to seek the termination of the trading suspension
on the NYSE American, so that trading may resume on that
market.
The CUSIP identifier for the Company's common stock following
the reverse stock split is 03209T 208. The Company's common stock
will begin trading on a post-split basis, on the OTC Pink Open
Market, when the market opens on November
10, 2022.
Forward-Looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Any statements contained
in this press release that are not statements of historical fact
may be deemed to be forward-looking statements. Without limiting
the foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," or "estimate" or comparable terminology are intended
to identify forward-looking statements. Such forward-looking
statements include, for example, statements about the potential
impact of the reverse stock split, the potential for a successful
appeal from the NYSE Regulatory delisting decision or the
termination of the NYSE American trading suspension, and our
ability to become listed or remain listed on NYSE American.
Forward-looking statements are subject to various risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such statements including, among
others the risk that the Company will not be successful in any
appeal, that Ampio's stock will be delisted from the NYSE American,
that any reverse stock split may not enable Ampio to satisfy the
NYSE American requirements for termination of the trading
suspension, the market price of Ampio's common stock may not
demonstrate sustained price improvement to regain compliance with
the NYSE American continued listing standards or Ampio may not be
able to maintain listing on the NYSE American for any other reason,
and that there may be no market in the Company's common stock.
The forward-looking statements in this press release speak only
as of the date of this press release. Except as required by law,
Ampio assumes no obligation to update or revise these
forward-looking statements for any reason, except as required by
law.
Investor and Media Contacts:
Tony Russo or Nic
Johnson
Russo Partners
info@ampiopharma.com
tony.russo@russopartnersllc.com
nic.johnson@russopartnersllc.com
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SOURCE Ampio Pharmaceuticals, Inc.