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NextCure, Inc. (NASDAQ:NXTC), currently trading at $0.45 with a market capitalization of $12.62 million, announced Thursday that its board of directors has approved a one-for-twelve reverse stock split of its common stock. The reverse stock split is scheduled to become effective on July 14, 2025, at which point shares will begin trading on a split-adjusted basis on the Nasdaq Global Select Market. The move comes as the stock has declined 71.52% over the past year.InvestingPro analysis shows the company maintains a Fair financial health rating, with strong liquidity positions and more cash than debt on its balance sheet. Subscribers can access 8 additional key insights about NextCure’s financial position and growth prospects.
Under the terms of the reverse stock split, every twelve shares of NextCure’s common stock issued and outstanding as of the effective time will automatically be converted into one share. No fractional shares will be issued. Stockholders entitled to receive a fractional share will instead receive a cash payment equal to the fraction multiplied by the closing price of the common stock on the last trading day prior to the effective date, as reported by Nasdaq.
The company stated that proportionate adjustments will be made to the number of shares underlying outstanding equity awards and shares issuable under its equity incentive plans and other agreements, as well as to the applicable exercise or conversion prices.
This information is based on a statement in a press release filed with the Securities and Exchange Commission.
In other recent news, NextCure, Inc. announced that its shareholders have approved all proposals at the company’s 2025 Annual Meeting of Stockholders. Key decisions included the election of three Class III directors, who will serve until the 2028 annual meeting. Shareholders also ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. Another significant development was the approval of an amendment to the company’s certificate of incorporation to authorize a reverse stock split at a ratio and time to be determined by the board of directors. The decision on executive compensation was also addressed, with shareholders approving the compensation paid to the company’s named executive officers. Additionally, it was decided that the vote on executive compensation will be held annually. These developments reflect the company’s ongoing governance and strategic planning efforts.
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