Graphite Bio (GRPH) has shared an update.
Graphite’s stockholders have given the green light to a transformative merger, approving a reverse stock split of their common stock at a 1-for-7 ratio and a company name change to “LENZ Therapeutics, Inc.” This strategic move, slated to take effect on March 21, 2024, means that every seven shares of Graphite will consolidate into one new share, with the stock trading under a new ticker symbol the following day. Shareholders with fractional shares will be compensated in cash based on the stock’s fair value, as the company aligns itself for a fresh start under the LENZ banner.
Find detailed analytics on GRPH stock on TipRanks’ Stock Analysis page.
