Relmada Therapeutics Inc.'s board approved a 1-for-4 reverse split of the company's capital stock ahead of a planned listing on the Nasdaq Capital Market.
The reverse split will become effective Sept. 30, and the New York-based company's common stock will begin trading on a split-adjusted basis the same day.
Following the reverse split, the company's authorized shares of common stock will be reduced from about 200 million to about 50 million, and it will have about 9,893,628 outstanding common stock shares.
The company is listed on the OTCQB, a stock market for over-the-counter securities.
