BROOMFIELD, CO – January 28, 2025 (NEWMEDIAWIRE) – Aclarion, Inc., (“Aclarion” or the “Company”) (Nasdaq: ACON, ACONW), a healthcare technology company that is leveraging biomarkers and proprietary augmented intelligence algorithms to help physicians identify the location of chronic low back pain, today announced revised timing and a revised split ratio for its pending reverse stock split of its common stock.
The Company’s revised timing is for the reverse stock split to be effective before market open on Thursday January 30, 2025. The Company’s revised ratio for the reverse stock split is 1-for-335.
On December 31, 2024, the Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation to affect a reverse stock split with the exact ratio to be set by its Board of Directors. The Board resolved to set the reverse stock split at the ratio of 1-for-335. The Company filed an amendment to its Certificate of Incorporation with the Secretary of State in Delaware effective January 29, 2025, at 5:00 p.m. Eastern Time. As a result, every three hundred thirty five (335) issued shares of common stock will automatically be combined into one (1) share of common stock.
The Company believes that affecting the reverse stock split will assist in its efforts to meet the Nasdaq continued listing standards and to continue to have its common stock remain listed and traded on Nasdaq. In particular, the Company expects the reverse stock split to increase the per share price and bid price of its common stock above the $1.00 required by Nasdaq’s Minimum Bid Price Rule.
Shares of the Company’s common stock will be assigned a new CUSIP number (655187300) and are expected to begin trading on a split-adjusted basis on Thursday, January 30, 2025.
The reverse stock split will not change the authorized number of shares of the Company’s common stock. No fractional shares will be issued and any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. Therefore, stockholders with less than 335 shares will receive one share of stock.
The reverse stock split will apply to the Company’s outstanding warrants, stock options and restricted stock units. The number of shares of common stock into which these outstanding securities are convertible or exercisable will be adjusted proportionately as a result of the reverse stock split. The conversion or exercise prices of any outstanding warrants or stock options will also be proportionately adjusted in accordance with the terms of those securities and the Company’s equity incentive plans.
Aclarion, a leading technology company, has announced a revised split ratio and timing for its upcoming reverse stock split. The company has decided to proceed with a 1-for-5 reverse stock split, which will take effect on [date]. This revised split ratio will help streamline the company’s capital structure and improve overall shareholder value.
The reverse stock split will reduce the number of outstanding shares and increase the price per share, making it more attractive to potential investors. Shareholders should note that the reverse stock split will not affect their ownership percentage in the company, as the total value of their holdings will remain the same.
Aclarion’s management believes that this revised split ratio and timing will better position the company for future growth and expansion. Shareholders are encouraged to stay informed about the reverse stock split and its implications by visiting the company’s website or contacting investor relations.
Overall, Aclarion remains committed to creating value for its shareholders and driving innovation in the technology industry. Stay tuned for more updates on the reverse stock split and other exciting developments from Aclarion.
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