Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) announced a 1-for-15 reverse stock split to be effective on August 15, 2025.
The reverse stock split aims to help Salarius regain compliance with the $1.00 minimum closing bid price required for continued listing on the Nasdaq Capital Market.
All issued and outstanding shares will be affected by the reverse split, reducing the number of shares from approximately 7.6 million to approximately 509,000.
Purpose of the Reverse Stock Split
The reverse stock split is intended to enable Salarius Pharmaceuticals to comply with the minimum closing bid price requirement for continued listing on the Nasdaq Capital Market.
Board Approval
The specific ratio of 1-for-15 for the reverse stock split was approved by Salarius' stockholders and Board of Directors, following an authorization process.
Impact on Shareholders
Shareholders will receive cash in lieu of fractional shares based on the closing price per share of Salarius' common stock on August 15, 2025.
- The reverse stock split will adjust all outstanding options, warrants, and shares reserved for future issuance in line with the new share structure.
- Shareholders will not see a change in their ownership percentage, except for potential cash payments for fractional shares resulting from the split.
The announcement of the 1-for-15 reverse stock split by Salarius Pharmaceuticals reflects the company's strategic move to maintain compliance with Nasdaq listing requirements. Shareholders should be aware of the upcoming changes and their impact on ownership, as well as the procedures for handling fractional shares.