Zalicus Inc. Announces 1-for-6 Reverse Stock Split
Published: Oct 03, 2013
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Zalicus Inc. (Nasdaq Capital Market: ZLCS) today announced that it has filed a Certificate of Amendment to its Sixth Amended and Restated Certificate of Incorporation, with the Secretary of State of the State of Delaware to effect a 1-for-6 reverse stock split of Zalicus common stock, effective as of October 3, 2013 at 12:01 a.m. Eastern Time. The Certificate of Amendment to effect a reverse stock split was approved by the company’s stockholders at its Annual Meeting of Stockholders held on June 6, 2013 and the specific 1-for-6 ratio was subsequently approved by the Zalicus Board of Directors on September 18, 2013. The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 147.5 million to approximately 24.6 million. As a result of the reverse stock split, Zalicus expects to regain compliance with the $1.00 per share minimum bid price requirement for continued listing on The Nasdaq Capital Market.
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