Mainz Biomed announces 1-for-40 reverse stock split

Mainz Biomed (MYNZ) announced a 1-for-40 reverse stock split of its issued and outstanding shares. The reverse stock split was authorized by the Board of Directors of the Company pursuant to shareholder approval granted at its Extraordinary Shareholders Meeting on November 20, 2024. The reverse stock split is expected to become effective on December 3, 2024, and the Company’s ordinary shares are expected to begin trading on the split-adjusted basis on the Nasdaq under the Company’s existing trading symbol “MYNZ” at market open on December 3, 2024, upon Nasdaq’s approval. The new CUSIP number for the Company’s ordinary shares following the reverse stock split will be N5436L119. The reverse stock split is intended to increase the market price per share of its common stock to comply with the continued listing standards of the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) and to make investments in the Company more attractive to investors by increasing the trading price of the Company’s ordinary shares on such market.