cytk Announces 1-for-6 Reverse Stock Split (Jeu The Bull)

par voun, mardi 25 juin 2013, 07:42 (il y a 4171 jours)

South San Francisco, CA June 24, 2013 - Cytokinetics, Incorporated (CYTK) announced today that it has filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to effect a one-for-six reverse stock split of its common stock, effective as of 5:00 p.m. Eastern time today. A series of alternate amendments to effect a reverse stock split were approved by the Company`s stockholders at its Annual Meeting of Stockholders held on May 22, 2013, and the specific one-for-six ratio was subsequently approved by the Company`s Board of Directors.

At the effective time of the reverse stock split, every six shares of the Company`s issued and outstanding common stock will be automatically converted into one issued and outstanding share of common stock, without any change in par value per share. The reverse stock split will affect all shares of the Company`s common stock outstanding immediately prior to the effective time of the reverse stock split, as well as the number of shares of common stock available for issuance under the Company`s equity incentive plans. In addition, the reverse stock split will effect a reduction in the number of shares of common stock issuable upon the conversion of shares of preferred stock or upon the exercise of stock options or warrants outstanding immediately prior to the effectiveness of the reverse stock split. No fractional shares will be issued as a result of the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will receive, in lieu thereof, a cash payment based on the closing sales price of the Company`s common stock as reported on the NASDAQ Capital Market on the last business day immediately preceding the effective date of the reverse stock split. The Company`s common stock will begin trading on the NASDAQ Capital Market on a split-adjusted basis when the market opens on Tuesday, June 25, 2013. The new CUSIP number for the Company`s common stock following the reverse stock split is 23282W 605.

The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 163.6 million to approximately 27.3 million. Concurrently, the authorized number of shares of common stock will be reduced to 81.5 million.

Computershare Trust Company, N.A. is acting as exchange agent and transfer agent for the reverse stock split. Computershare will provide instructions to stockholders regarding the process for exchanging their pre-split stock certificates for post-split stock certificates. Additional information regarding the reverse stock split can be found in the Company`s definitive proxy statement filed with the Securities and Exchange Commission on April 2, 2013.