WALTHAM, Mass.--(BUSINESS WIRE)--NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes, today announced the effectiveness of a one-for-six reverse stock split of its common stock. The reverse stock split, which was previously approved by the Company’s shareholders at a Special Meeting of Stockholders held on December 7, 2012, was approved by the Company’s Board of Directors on February 14, 2013. The reverse stock split is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market. As a result of the reverse stock split, every six shares of the Company’s common stock issued and outstanding prior to the opening of trading on February 19, 2013 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.0001. No fractional shares will be issued as a result of the reverse stock split. Shareholders who otherwise would be entitled to receive a fractional share in connection with the reverse stock split will receive a cash payment in lieu thereof.
