NexImmune Announces 1-for-25 Reverse Stock Split
18 Outubro 2023 - 12:30PM
NexImmune, Inc. (Nasdaq: NEXI) (the “Company”) a biotechnology
company developing a novel approach to immunotherapy designed to
orchestrate a targeted immune response by directing the function of
antigen-specific T cells in oncology, autoimmune and infectious
diseases, today announced that the Board of Directors and
stockholders of the Company approved a 1-for-25 reverse stock split
of the Company’s common stock at a special meeting of the Company
held on October 17, 2023. The reverse stock split will take effect
after the close of trading on The Nasdaq Capital Market at 5:00
p.m. Eastern Time, on Wednesday, October 18, 2023. The Company’s
common stock will open for trading under a new CUSIP number 65344D
208 on The Nasdaq Capital Market on October 19, 2023, on a
split-adjusted basis under the current ticker symbol "NEXI." The
reverse stock split is intended to increase the per share trading
price of the Company's common stock to enable the Company to regain
compliance with the minimum bid price requirement for continued
listing on The Nasdaq Capital Market.
The 1-for-25 reverse stock split will automatically convert 25
current shares of the Company’s common stock into one share of
common stock. No fractional shares will be issued in connection
with the reverse stock split. Stockholders who would otherwise hold
a fractional share of the Company’s common stock following the
reverse stock split will receive a cash payment in lieu thereof at
a price equal to that fractional share to which the stockholder
would otherwise be entitled multiplied by the closing sale price of
the common stock on The Nasdaq Capital Market, as adjusted for the
reverse stock split, on Wednesday, October 18, 2023.
The reverse split will reduce the number of shares of
outstanding common stock from approximately 26,455,022 shares, the
number of shares outstanding as of October 18, 2023, to
approximately 1,058,200 shares. The total authorized number of
shares will not be reduced. Proportional adjustments will also be
made to the exercise and conversion prices of the Company’s
outstanding stock options and warrants, and to the number of shares
issued and issuable under the Company’s stock incentive plans.
Stockholders holding their shares electronically in book-entry
form are not required to take any action to receive post-split
shares. Stockholders owning shares through a bank, broker, or other
nominee will have their positions automatically adjusted to reflect
the reverse stock split, subject to brokers’ particular processes,
and will not be required to take any action in connection with the
reverse stock split. For those stockholders holding physical stock
certificates, the Company’s transfer agent, Computershare Trust
Company, N.A., will send instructions for exchanging those
certificates for shares held electronically in book-entry form or
for new certificates, in either case representing the post-split
number of shares, and any payments in cash in lieu of fractional
shares, if applicable.
About NexImmune
NexImmune is developing novel approach to
immunotherapy designed to employ the body’s own T cells to generate
a specific, potent, and durable immune response. The backbone of
NexImmune’s approach is a proprietary Artificial Immune Modulation
(AIM™) nanoparticle technology platform. The AIM technology enables
NexImmune to construct nanoparticles that function as synthetic
dendritic cells capable of directing a specific T cell-mediated
immune response. AIM constructed nanoparticles employ natural
biology to engage, activate and expand endogenous T cells in ways
that combine anti-tumor attributes of antigen-specific precision,
potency and long-term persistence with reduced potential for
off-target toxicities. NexImmune is focused on developing
injectable AIM nanoparticle constructs and modalities for potential
clinical evaluation in oncology, autoimmune disorders and
infectious diseases.
For more information, visit www.neximmune.com.
Forward Looking Statements
This press release may contain “forward-looking” statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 that are based on the beliefs and assumptions and on
information currently available to management of the Company. All
statements other than statements of historical fact contained in
this press release are forward-looking statements, including
statements concerning the Company’s ability to regain compliance
with the minimum bid price requirement for continued listing on the
Nasdaq Capital Market; the impact of our workforce reduction; the
enrollment, timing, progress, release of data from and results of
the Company’s paused clinical trials and the expectations with
respect to potential AIM INJ product candidates; the timing,
progress and release of preclinical data from our AIM INJ platform
programs and other preclinical research programs; the expectation
of submitting an IND for NEXI-101 (injectable) in 2024; and the
utility of prior preclinical and clinical data in determining
future clinical results. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “expects,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these terms or other comparable terminology. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the Company’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. These risks and uncertainties include,
but are not limited to, the risks and uncertainties set forth in
the “Risk Factors” section of our Annual Report on Form 10-K for
the year ended December 31, 2022 filed with the Securities and
Exchange Commission (“SEC”) on March 28, 2023, and subsequent
reports that we file with the SEC. Forward-looking statements
represent the Company’s beliefs and assumptions only as of the date
of this press release. Although the Company believes that the
expectations reflected in the forward-looking statements are
reasonable, it cannot guarantee future results, levels of activity,
performance or achievements. Except as required by law, the Company
assumes no obligation to publicly update any forward-looking
statements for any reason after the date of this press release to
conform any of the forward-looking statements to actual results or
to changes in its expectations.
CONTACT:Chad Rubincrubin@neximmune.com
NexImmune (NASDAQ:NEXI)
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