New York-based Tauriga Sciences Inc. said the previously announced 1-for-75 reverse stock split of its outstanding common shares will take effect on July 9.
For a 20-day business period the company's stock will trade on a split-adjusted basis on over the counter pink under the symbol TAUGD and after that will revert back to TAUG.
As a result of the stock split, Tauriga's issued and outstanding shares of will decrease from approximately 4,078,179,672 shares to approximately 54,377,316 shares. The number of authorized shares of the company's common stock will be decreased from 7,500,000,000 to 100,000,000.
ClearTrust LLC is acting as exchange agent for the stock split.
Tauriga develops products and technologies to aid people affected by muscle tension.