Chromocell Therapeutics Corp (CHRO) has released an update.
In a significant move for stockholders, a company has completed a reverse stock split where nine shares were consolidated into one, effective February 15, 2024, coinciding with their Initial Public Offering (IPO). This adjustment left shareholders’ overall equity and voting power nearly intact, with minimal changes due to rounding. The consolidation was part of broader corporate restructuring, including amended by-laws and a certificate of incorporation, all aimed at streamlining the company’s equity ahead of its trading debut on the NYSE American on February 16, 2024. The company’s IPO announcement was made through press releases, emphasizing that these changes are not to be considered filed under the Securities Exchange Act but are for informational purposes only.
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