The reverse stock split was approved by Kintara's stockholders at Kintara's special meeting of stockholders held on October 4, 2024, to be effected in the Board's discretion of not less than 1-for-20 and not more than 1-for-40. The final reverse stock split ratio of 1-for-35 was approved by the Board on October 4, 2024.
As a result of the reverse stock split, every thirty-five pre-split shares of Kintara's common stock outstanding will become one share of common stock. The reverse stock split is expected to reduce the number of shares of Kintara's outstanding common stock from approximately 55.6 million shares to approximately 1.6 million shares. The par value of Kintara's common stock will remain unchanged at $0.001 per share after the reverse stock split. The reverse stock split will not change the authorized number of shares of Kintara's common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in Kintara's equity, except to the extent that the reverse stock split results in some stockholders owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Instead, in lieu of any fractional shares to which a stockholder of record would otherwise be entitled as a result of the reverse stock split, Kintara will issue to such stockholder such additional fraction of a share as is necessary to increase such resulting fractional share to a full share of common stock. The reverse stock split will also apply to common stock issuable upon the exercise of Kintara's outstanding warrants and stock options, with a proportionate adjustment to the exercise prices thereof, and under Kintara's equity incentive plans.
Following the closing of the Merger, the combined company's total outstanding common stock is expected to be approximately 42.0 million shares.
Equinity Trust Company, LLC is acting as the exchange agent and transfer agent for the reverse stock ...
