Acusphere Inc. (ACUS) Stockholders Approve Reverse Stock Split at Special Meeting of Stockholders
1/20/2012 10:11:45 AM
LEXINGTON, Mass.--(BUSINESS WIRE)--Acusphere, Inc. (ACUS.PK) today announced that its stockholders voted to approve the proposed 1-for-10 reverse stock split of the Company’s common stock at its Special Meeting of Stockholders held today.
The Company intends to effect the reverse stock split immediately by filing an amendment to its certificate of incorporation, at which time every ten (10) shares of the Company’s outstanding common stock will be automatically combined into one (1) outstanding share of common stock. This will reduce the number of outstanding shares of Acusphere common stock from approximately 51.0 million to 5.1 million. The number of authorized shares of Acusphere common stock will remain unchanged at 250.0 million, and the par value per share will remain unchanged at $0.01. In lieu of issuing any fractional shares that would otherwise result from the reverse stock split, the Company will instead round up any such fractional share to the nearest whole number.