Advanced Cell Technology Elects Not to Complete Reverse Split
Published: Dec 19, 2012
MARLBOROUGH, Mass.--(BUSINESS WIRE)--Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC or the “Company”), a leader in the field of regenerative medicine, announced today that it will allow the shareholder approval it had received to complete a reverse split of its common stock prior to year-end to lapse, primarily due to market conditions and other corporate factors. If the Company decides to pursue a reverse split at a later date, it will need to file another proxy statement with the Securities and Exchange Commission, and seek shareholder approval. Shareholders had previously given the Company the discretion to complete a reverse stock split prior to December 31, 2012.