Aptose Biosciences Executes 1-for-30 Reverse Stock Split

Aptose Biosciences Inc. (NASDAQ: APTO) has made a significant shift in its stock configuration with a 1-for-30 reverse stock split of the company’s common shares, as announced in a Form 8-K filed with the Securities and Exchange Commission.

The stock split, approved by company shareholders on January 27, 2025, was fully implemented on February 18, 2025. The proposal had initially recommended a reverse split ratio ranging from 1-for-10 to 1-for-30, with the Board of Directors ultimately deciding on the latter to maximize shareholder interests.

This stock split means that for every thirty common shares of Aptose Biosciences, shareholders will now own one. No fractional shares will be given in this process. Instead, the number of common shares will be rounded down to the nearest number, eliminating the need for compensation for the resulting smaller fraction. This reverse stock split will not alter the rights or preferences of common shares.

Consequent to this development, the company is estimated to have approximately 2.1 million common shares issued and outstanding. In essence, this reduction consolidates the company’s common shares, potentially lifting the stock’s market price.

The common shares will start trading on a split-adjusted basis on the Nasdaq Capital Market (Nasdaq) and the Toronto Stock Exchange (TSX), commencing upon market open on February 26, 2025. This, however, is subject to final confirmation from Nasdaq and TSX.

Post-split shares will carry a new CUSIP number, 03835T408, and a new ISIN, CA03835T4081 effective February 26, 2025 and will continue trading on the TSX under “APS” and on the Nasdaq under “APTO.”

The impact of the reverse split extends to the exercise prices and the number of common shares tied to Aptose’s outstanding equity awards as well as the number of shares issuable under Aptose’s equity incentive plans and certain existing agreements. All will see a proportional adjustment in line with the reverse stock split.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aptose Biosciences’s 8K filing here.

About Aptose Biosciences

Aptose Biosciences Inc, a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology in Canada. Its lead clinical program is APTO-253, which is a Phase I clinical trial for the treatment of patients with relapsed or refractory hematologic malignancies.