Autonomix Announces Reverse Stock Split
22 Ottobre 2024 - 2:30PM
Autonomix Medical, Inc. (NASDAQ: AMIX) (“Autonomix” or the
“Company”), a medical device company focused on advancing precision
nerve-targeted treatments, today announced that it filed an
amendment to its amended and restated certificate of incorporation
with the Secretary of State of the State of Delaware to effect a
1-for-20 reverse stock split of its common stock. The reverse stock
split will take effect at 11:59 pm (Eastern Time) on October 24,
2024, and the Company’s common stock will open for trading on The
Nasdaq Capital Market on October 25, 2024 on a post-split basis,
under the existing ticker symbol “AMIX” but with a new CUSIP number
05330T 205.
As a result of the reverse stock split, every 20
shares of the Company’s common stock issued and outstanding prior
to the opening of trading on October 25, 2024 will be consolidated
into one issued and outstanding share, with no change in the
nominal par value per share of $0.001. No fractional shares will be
issued as a result of the reverse stock split. Stockholders of
record who would otherwise be entitled to receive a fractional
share will be entitled to the rounding up of the fractional share
to the nearest whole number.
As a result of the reverse stock split, the
number of shares of common stock outstanding will be reduced from
approximately 23.0 million shares to approximately 1.15 million
shares, and the number of authorized shares of common stock will
remain at 500 million shares. In addition, the number of shares
reserved for issuance under the Company’s equity compensation plan
immediately prior to the reverse stock split will be reduced
proportionately.
About Autonomix Medical,
Inc.
Autonomix is a medical device company focused on
advancing innovative technologies to revolutionize how diseases
involving the nervous system are diagnosed and treated. The
Company’s first-in-class technology platform includes a
catheter-based microchip sensing array that has the ability to
detect and differentiate neural signals with approximately 3,000
times greater sensitivity than currently available technologies. We
believe this will enable, for the first time ever, transvascular
diagnosis and treatment of diseases involving the peripheral
nervous system virtually anywhere in the body.
We are initially developing this technology for
the treatment of pain, with initial trials focused on pancreatic
cancer, a condition that causes debilitating pain and is without a
reliable solution. Our technology constitutes a platform to address
dozens of indications, including cardiology, hypertension and
chronic pain management, across a wide disease spectrum. Our
technology is investigational and has not yet been cleared for
marketing in the United States.
For more information, visit autonomix.com and
connect with the Company on X, LinkedIn, Instagram and
Facebook.
Forward Looking Statements
Some of the statements in this release are
“forward-looking statements,” which involve risks and
uncertainties. Forward-looking statements in this press release
include, without limitation, the timing and completion of the
reverse split. Such forward-looking statements can be identified by
the use of words such as “should,” “might,” “may,” “intends,”
“anticipates,” “believes,” “estimates,” “projects,” “forecasts,”
“expects,” “plans,” and “proposes.”
Although Autonomix believes that the
expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements. You are urged to carefully
review and consider any cautionary statements and other
disclosures, including the statements made under the heading “Risk
Factors” and elsewhere in the Annual Report on Form 10-K filed with
the U.S. Securities and Exchange Commission (SEC) on May 31, 2024.
Forward-looking statements speak only as of the date of the
document in which they are contained and Autonomix does not
undertake any duty to update any forward-looking statements except
as may be required by law.
Investor and Media ContactJTC Team, LLCJenene
Thomas908-824-0775autonomix@jtcir.com
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