Aptevo Therapeutics (APVO) announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-37. The Reverse Stock Split is expected to become effective on December 3 at 5:01 p.m. Eastern Time, with shares expected to begin trading on the Nasdaq Capital Market, on a split-adjusted, at market open on December 4. In connection with the Reverse Stock Split, every 37 shares of the company’s common stock issued and outstanding as of the Effective Time will be automatically converted into one share of the company’s common stock. No change will be made to the trading symbol for the company’s shares of common stock, “APVO”, in connection with the reverse split. The Reverse Stock Split is part of the company’s plan to regain compliance with the minimum bid price requirement of $1.00 per share required to maintain continued listing on The Nasdaq Capital Market, among other benefits
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