Endonovo Therapeutics will execute a 1-for-1,000 reverse stock split of the company’s common shares.
This will reduce the number of outstanding shares from approximately 1 billion to 100,530, the company said. The Woodland Hills electrical medical device maker said the split will take effect after Financial Industry Regulatory Authority review.
The new shares will trade under the ticker symbol: ENDVD.
There will be no change in the par value per share and fractional shares of common stock will not be issued.
“Stockholders of record who would otherwise be entitled to receive a fractional share will receive one full share of post-reverse split common stock,” Endonovo explained in a statement. “Shareholders will receive instructions from the company’s exchange agent, Equity Stock Transfer, as to how to exchange existing share certificates for new certificates representing the post-reverse split shares.”
The company announced details of the split on Wednesday. Shares of Endonovo (ENDV) closed Friday at a fraction of a cent on the over-the-counter market.