Pressure BioSciences Inc. intends to implement a 1-for-30 reverse stock split of its common stock, effective June 5.
The reverse split is part of the company's plan to satisfy the $4 minimum bid price requirement to list on Nasdaq. Pressure Biosciences trades on the OTCQB.
Post split, the company's issued and outstanding shares will total 1,055,232.
Computershare Trust Co. NA will act as the exchange agent in the transaction.