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Hemispherx Biopharma to implement 1-for-44 reverse stock split

Hemispherx Biopharma Inc. will implement a 1-for-44 reverse split of its issued and outstanding common shares following shareholder approval.

The Ocala, Fla.-based immuno-pharma company said 86% of the shares that actually voted were in favor of the reverse split.

The transaction will be effective June 10, with the company's common stock trading on a split-adjusted basis beginning June 11.

Following the reverse split, Hemispherx Biopharma's outstanding common shares will be reduced to about 2,200,616 from about 96,827,062.

American Stock Transfer & Trust Co. LLC will act as exchange agent for the reverse stock split.