Spherix (SPEX) Announces Reverse Stock Split Effective September 21, 2012
9/21/2012 9:28:21 AM
BETHESDA, Md., Sept. 21, 2012 (GLOBE NEWSWIRE) -- Spherix Incorporated (Nasdaq: SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today announced that it has filed a Certificate of Amendment to its Certificate of Incorporation, as amended, to effect a 1-for-20 reverse stock split of its common stock that will become effective at the end of business today. The reverse stock split-adjusted shares of the Company's common stock will begin trading at the start of NASDAQ trading on September 24, 2012. The Company's shares will continue to trade on The NASDAQ Capital Market under the symbol "SPEX", with the fifth character "D" added to the end of the trading symbol for a period of 20 trading days to indicate the reverse stock split has occurred. Thereafter, the Company's symbol will revert to its original symbol "SPEX". A new CUSIP number has been assigned to Spherix' common stock after the reverse stock split becomes effective.