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Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) has announced a one-for-fifty reverse stock split of its common stock, effective at 4:01 pm Eastern Time on Monday. The announcement comes as the company’s stock has experienced significant pressure, falling nearly 98% over the past six months according to InvestingPro data, with current market capitalization standing at just $170,000. This action, approved by the company’s board following authorization from its stockholders at the annual meeting on March 10, 2025, is aimed at reclassifying every fifty shares of issued and outstanding common stock into one share. InvestingPro analysis reveals the company’s challenging position, with a weak financial health score of 0.95 and rapidly depleting cash reserves. Subscribers can access 15 additional ProTips and detailed financial metrics for deeper insights.
The reverse stock split, which did not alter the par value per share, has proportionately reduced the number of shares issuable upon the exercise or vesting of outstanding stock options and warrants, while increasing their conversion and exercise prices. The number of shares reserved for issuance under the company’s equity compensation plans has also been proportionately decreased. The total number of authorized shares of common stock and preferred stock remains unchanged. With a beta of 1.63, the stock has shown historically high volatility compared to the broader market.
No fractional shares have been issued as a result of this corporate action. Instead, stockholders entitled to a fractional share will receive a cash payment. Pacific Stock Transfer Company is managing the exchange process for the reverse stock split. Stockholders holding shares in book-entry form or through a broker, bank, or other record holder do not need to take any action.
On Tuesday, trading of Hepion Pharmaceuticals’ common stock continued on The Nasdaq Capital Market, adjusted for the reverse stock split, under the new CUSIP number 426897401. This move is detailed in an amendment filed with the Secretary of State of the State of Delaware on March 17, 2025, and is documented in the company’s recent SEC filing.
In other recent news, Hepion Pharmaceuticals has announced a reverse stock split to meet NASDAQ’s listing requirements. The 1-for-50 reverse split aims to boost the stock price to comply with the minimum bid price rule, reducing the number of shares from approximately 54.25 million to 1.08 million. Additionally, Hepion has launched a $9 million stock offering, with proceeds intended for debt repayment and general corporate purposes. The offering, priced at $0.325 per share, is expected to close on January 23, 2025, with Laidlaw & Company (UK) Ltd. acting as the sole placement agent. In financial disclosures, Hepion released an unaudited balance sheet as of January 31, 2025, providing an updated view of its financial position. Furthermore, Hepion received a notice from NASDAQ regarding non-compliance with a listing rule related to annual shareholder meetings. The company has 45 days to submit a compliance plan, with potential extensions available if the plan is accepted. These developments are part of Hepion’s ongoing efforts to maintain its NASDAQ listing and strengthen its financial standing.
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