Genta Authorizes 1-For-50 Reverse Split
June 29, 2009 (FinancialWire) — Genta Inc.’s (OTCBB: GNTA) board has approved a one-for-fifty reverse stock split of the company’s common stock, effective with the open of trading on July 1.
In the reverse split, each fifty shares of Genta common stock issued and outstanding will be combined into one share of common stock. The move will reduce the number of issued and outstanding shares of GNTA to around 100 million shares.
The reverse split will affect the conversion ratio for all instruments convertible into shares of Genta common stock, including its convertible notes, outstanding warrants and outstanding stock options.
Berkeley Heights, New Jersey-based Genta is a biopharmaceutical company that is focused on delivering products for the treatment of patients with cancer.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
