(RTTNews) - AEON Biopharma, Inc. (AEON), a clinical-stage biopharmaceutical company, announced that its Board of Directors has approved a 1-for-72 reverse stock split of its common stock, effective February 26, 2025.
The reverse stock split was approved by stockholders at a Special Meeting held on February 24, 2025, and aims to increase the selling price of the company's stock to maintain compliance with the NYSE American listing requirements.
As a result of the reverse stock split, every 72 shares of AEON's outstanding common stock will be combined into one share.
Stockholders will retain the same percentage of ownership, except for fractional shares, which will be rounded up to the nearest whole share.
The company's common stock will begin trading on a split-adjusted basis on February 26, 2025, under the ticker symbol "AEON" and a new CUSIP number.
The reverse stock split is part of AEON's ongoing efforts to meet regulatory requirements and enhance its position in the market.
AEON closed Monday's (Feb.24 2025) trading at $0.06 down by 43.89percent on the New York Stock Exchange.
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