Tandem Diabetes Care, Inc. stockholders approved the implementation of a 1-for-10 reverse stock split of the company's issued and outstanding common stock.
Following the stock split, Tandem's issued and outstanding common stock will be about 5.5 million shares. The company's authorized common shares will remain at 100 million shares.
Tandem's common stock will trade on the Nasdaq Global Market on a split-adjusted basis beginning Oct. 10.
American Stock Transfer & Trust Co. LLC is acting as the exchange agent for the reverse stock split.