Lpath: reverse split 1:7 le 5/10 (Jeu The Bull)

par jmp , Boulogne/Mer, jeudi 13 décembre 2012, 15:09 (il y a 4366 jours)

update cotations12 set cote=round(cote * 7, 4) where valeur=137 and jour <= '2012-10-05'

Lpath Announces Reverse Split of Class A Common Stock

SAN DIEGO, CA--(Marketwire - Oct 4, 2012) - Lpath, Inc. (OTCQB: LPTN), the industry leader in bioactive lipid-targeted therapeutics, announced a 1-for-7 reverse split of the company's issued and outstanding Class A common stock and a corresponding decrease in the number of its authorized shares of Class A common stock. The reverse stock split will be effective as of 5:00 p.m. PDT on October 5, 2012.

"We have elected to effect a reverse stock split to help Lpath meet the listing requirements of the NASDAQ Capital Market," said Scott Pancoast, president and chief executive officer of Lpath. "We believe that a NASDAQ listing and the reverse stock split can broaden our shareholder base and increase the appeal of our stock to institutional investors. Further, these actions should provide benefits to our shareholders by improving trading liquidity in the stock, thereby enhancing long-term shareholder value."

Each shareholder's percentage ownership interest in Lpath and the proportional voting power remains unchanged after the reverse stock split. In addition, the rights and privileges of the holders of our common stock are unaffected by the reverse stock split. This reverse stock split is pursuant to a Certificate of Change filed with the State of Nevada.

As of the effective date, every seven shares of issued and outstanding common stock will be converted into one share of common stock, with all fractional shares being rounded up to the nearest whole share. The reverse stock split will reduce the number of shares of issued and outstanding Class A common stock from approximately 73.7 million pre-split to approximately 10.5 million post-split. The number of authorized shares of Class A common stock will be reduced from 200.0 million to 28.6 million. Proportional adjustments will be made to Lpath's warrants, stock options, and equity-compensation plans. The reverse stock split will have no effect on the company's authorized shares of preferred stock.

The company's common stock will trade under a new CUSIP number (548910306). The company's ticker symbol will remain unchanged, although a "D" will be placed on the LPTN ticker symbol (LPTND) for 20 business days to alert the public about the reverse stock split.

It is not necessary for shareholders of the company to exchange their existing stock certificates for new stock certificates of the company in connection with the reverse stock split, although shareholders may do so if they wish. Please direct any questions you might have concerning the reverse stock split to your broker or the company's transfer agent, Nevada Agency and Transfer Company, at (775) 322-0626.

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jean-marie