Great Basin Scientific Inc. is implementing a 1-for-2,000 reverse split of its issued and outstanding common shares, effective 12:01 a.m. ET April 10.
The reverse split reduces the number of common stock to about 742,952 shares from 1,485,904,497 shares outstanding. The split was approved by stockholders at a March 9 special meeting.
Great Basin's common stock will begin trading on a split-adjusted basis under the temporary symbol GBSND. The symbol will revert to GBSN in 20 business days.
The company's transfer agent, American Stock Transfer & Trust Co. LLC, is acting as the exchange agent for the split.