Inovio Pharmaceuticals (INO) has released an update to notify the public and investors about corporate charter and bylaws modifications.
Inovio Pharmaceuticals, Inc. implemented a 1-for-12 reverse stock split on January 24, 2024, which took effect at 5:00 p.m. Eastern Time. This action consolidated every 12 shares of its common stock into one share without changing the par value of $0.001 per share. Fractional shares were not issued; instead, stockholders received a cash payment for fractions based on the stock’s closing price. The split adjusted the terms of the company’s stock options, convertible preferred stock, and equity incentive plans proportionately, while the authorized common stock total remained at 600,000,000 shares.
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