CombiMatrix approves 1-for-15 reverse common stock split CombiMatrix announced stockholder approval of a reverse split of CombiMatrix Common Stock at a special meeting of stockholders. With stockholder approval, the board has authorized a 1-for-15 reverse stock split of the company's common stock. The company expects that the reverse stock split will become effective as of 5:00 p.m. Pacific time on January 29 and expects that the reverse stock split will be effective for trading purposes upon the commencement of trading on February 1. The company also expects that its shares will continue to trade under the symbol "CBMX" with a "D" included as a suffix to the symbol for 20 trading days to signify that the reverse split has occurred. A holder of the old common stock who would have otherwise been entitled to a fractional share will be entitled to receive a cash payment for the fractional share interest. The board implemented the reverse stock split with the objective of regaining compliance with the minimum bid price listing maintenance requirements of The Nasdaq Capital Market.
CombiMatrix to host special shareholder meeting Special Shareholder Meeting to approve amendment to the company's Certificate of Incorporate to effect a reverse stock split of outstanding shares of common stock is being held in Costa Mesa, California on January 26 at 4 pm.