May. 22 at 11:34 PM
Scynexis Inc announced a 1-for-8 reverse stock split effective May 29, 2026, aimed at regaining compliance with Nasdaq minimum bid price requirements. The split was approved by shareholders at a special meeting on May 19, 2026, with final terms set by the Board.
Trading on a split-adjusted basis will begin on June 1, 2026 under the existing ticker, with a new CUSIP number. Each 8 outstanding shares will be consolidated into 1, reducing shares outstanding from ~79.5M to ~9.9M and authorized shares from 150M to 18.75M, without changing par value. Fractional shares will not be issued; affected holders will receive cash payments instead.
Outstanding equity instruments (options, RSUs, warrants) will be proportionally adjusted, with corresponding increases in exercise prices. Equiniti Trust Company will act as exchange agent, and brokerage-held positions will be adjusted automatically.
$SCYX