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Stock impact report

Immunic to implement 1-for-10 reverse stock split [Yahoo! Finance]

Immunic, Inc. (IMUX) 
Company Research Source: Yahoo! Finance
Immunic Inc (NASDAQ:IMUX, FRA:10VA) announced it will implement a 1-for-10 reverse stock split of its common shares, effective April 27, as part of efforts to meet contractual obligations tied to a recent securities agreement. The reverse split will take effect at 12:01 a.m. Eastern Time, with the company's shares continuing to trade on the Nasdaq Capital Market under the ticker symbol “IMUX.” Trading on a split-adjusted basis is set to begin at market open the same day. The decision follows approval from shareholders at a special meeting held on April 14, where investors authorized a reverse split ratio ranging from 1-for-10 to 1-for-30. The company's board of directors subsequently selected the 1-for-10 ratio. Under the terms of the split, every ten existing shares will be consolidated into one share. As a result, the number of outstanding shares is expected to decrease from approximately 136 million to about 13.6 million. The total number of authorized shares and the stock's Show less Read more
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