Outset Medical announces 1-for-15 reverse stock split

Outset Medical (OM) announced a one-for-fifteen reverse stock split of the Company’s common stock, par value $0.001, which will become effective at 12:01 a.m. Eastern Time on Thursday, March 20, 2025. The Company’s common stock will continue to trade under Outset’s existing trading symbol, OM, on the Nasdaq Global Select Market on a split-adjusted basis when the market opens on Thursday, March 20, 2025, with the new CUSIP number 690145206. The Reverse Stock Split was approved by Outset’s stockholders at a special meeting held on March 5, 2025, with the final ratio subsequently determined by the Company’s board of directors. As a result of the Reverse Stock Split, every 15 shares of the Company’s pre-split common stock issued and outstanding will be automatically reclassified into one new share of the Company’s common stock. The Reverse Stock Split will reduce the number of shares of common stock issued and outstanding from approximately 265 million to approximately 17 million, subject to adjustment due to the payment of cash in lieu of fractional shares. There will be no change to the number of authorized shares or the par value per share.