Intraop Medical Corporation Announces One for Fifty Reverse Stock Split

SUNNYVALE, Calif.--(BUSINESS WIRE)--IntraOp Medical Corporation (OTCBB: IOPD) today announced that it has filed an amendment to its articles of incorporation to effect a reverse stock split, whereby each 50 shares of common stock was combined into one share of common stock. The outstanding share count after giving effect to the reverse split is now approximately 7.8 million shares, reduced from approximately 392.8 million shares. In addition, the company has reduced the number of authorized shares of common stock from 500 million to 100 million and authorized a class of up to 20 million shares of preferred stock for future fund raising rounds.