Shares of Common Stock Will Begin Trading on a Split-Adjusted Basis on Monday, June 5, 2017
SOUTH EASTON, MA--(Marketwired - Jun 2, 2017) - Pressure BioSciences, Inc. (
The reverse stock split is intended to increase the per share trading price of the Company's common stock to satisfy the $4.00 minimum bid price requirement for initial listing on the NASDAQ Capital Market. As a result of the reverse stock split, every thirty shares of the Company's common stock issued and outstanding prior to the opening of trading on June 5, 2017 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.01. No fractional shares will be issued as a result of the reverse stock split. Shareholders who otherwise would be entitled to receive a fractional share in connection with the reverse stock split will receive an additional fraction of a share of common stock to round up to the next whole share.
Trading of the Company's common stock on the OTCQB will continue, on a split-adjusted basis, with the opening of the markets on Monday, June 5, 2017, under new CUSIP number 74112E208. Shares of the Company's common stock will continue to trade under the symbol "PBIO". Immediately subsequent to the reverse stock split, there will be approximately 1,055,232 shares of the Company's common stock issued and outstanding.
The Company has retained its transfer agent, Computershare Trust Company, N.A. ("Computershare"), to act as its exchange agent for the reverse stock split. Computershare will provide shareholders of record as of the effective date instructions for the exchange of their certificates. Shareholders owning shares via a 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 more information regarding the Company's reverse stock split, please refer to the proxy statement filed by the Company with the Securities and Exchange Commission on Schedule 14A on November 15, 2016.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (
For more information about PBI and this press release, please click on the following website link:
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Richard T. Schumacher
President & CEO
(508) 230-1828 (T)
Jeffrey N. Peterson
Chairman of the Board
(650) 812-8121 (T)