Key Biotech Company Goes All The Way To Reverse Share Split, Here's What We Know

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Psychedelics appear to be here to stay. Yet stocks, shares and finance are another story. On August 4, publicly traded clinical-stage psychedelics firm Mind Medicine Inc. (NASDAQ: MNMD) announced its board of directors has approved a ratio of 1:15 reverse share split of its common shares. 

The new distribution aims at enabling MindMed to achieve major corporate goals, providing it with greater flexibility for considering future business plans, and responding to the Nasdaq minimum bid price requirement

Following British Columbia’s Business Corporations Act, there will be no fractional shares of common shares issued. As to remaining fractional common shares, those of less than 1/2 of a common share will be canceled, and …

Full story available on Benzinga.com

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