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Investing.com -- Anebulo Pharmaceuticals (NASDAQ:ANEB) stock surged 80% after the clinical-stage pharmaceutical company announced its Board of Directors approved a plan to go private through a reverse stock split that would terminate its registration as an SEC reporting company.
The company plans to implement a reverse stock split at a ratio between 1-for-2,500 and 1-for-7,500, with the exact ratio to be determined by the Board. Following the split, stockholders holding fewer shares than the minimum threshold will receive $3.50 per pre-split share in cash, representing a 91% premium over the July 22, 2025 closing price.
Anebulo, which develops solutions for acute cannabis-induced toxic effects, cited the "burdensome" costs of maintaining public company status as the primary reason for the decision. The company stated that going private aligns with its strategy to develop product candidates, reduce operating costs, and "return the maximum value to its stockholders."
The transaction, recommended by a Special Committee of independent directors, is subject to stockholder approval and other conditions. Stockholders who own more than the minimum threshold (between 2,500 and 7,500 shares) will continue to hold one post-split share for every minimum number of pre-split shares owned, plus cash for any fractional shares.
The Board retains the right to abandon the proposed transaction if it determines the move is no longer in the best interests of the company or its stockholders.
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