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TOPIC: Name & Symbol Change Plus Split

Name & Symbol Change Plus Split 29 Jul 2019 07:50 #13074

  • rodney.strongg
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Effective today - Plus Therapeutics, Inc. with symbol PSTV - CYTXZ warrants change to PSTVZ

1 for 50 split effective on 8/5 - approximately 400,000 shares o/s after split.

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Name & Symbol Change Plus Split 29 Jul 2019 08:53 #13075

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Wow- 50! I wonder if there are minimum amounts of market cap to be listed on Nasdaq. :whistle: The stock only has to go down from about 10 to 1.5$ to reach the salary level of the CEO. I´ll bet they manage that too.

The whole text of the announcement:

AUSTIN, Texas, July 29, 2019 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”) today announced that the Company has officially changed its name from “Cytori Therapeutics, Inc.” to “Plus Therapeutics, Inc.” and the ticker symbol for the Company’s common stock on the Nasdaq Capital Market will change from “CYTX” to “PSTV”. The ticker symbol for the Company’s Series S Warrants will change from “CYTXZ” to “PSTVZ”. Trading under the new ticker symbols will begin at the open of the market on Monday, July 29, 2019. In addition, a new CUSIP number, 72941H103, has been assigned to the Company’s common stock and the new CUSIP number assigned to the Company’s Series S Warrants is 72941H111.

No actions are needed from Plus Therapeutics’ current shareholders relative to the ticker symbol or CUSIP changes.

Additionally, the Company intends to effect a 1-for-50 reverse stock split to become effective on August 5, 2019, and the Company’s common stock is expected to commence trading on a post-split basis beginning on August 6, 2019. The Company received the requisite stockholder approval for the reverse stock split on July 11, 2019. The new CUSIP number for the Company’s common stock after the reverse stock split will be 72941H400.

The reverse stock split will automatically combine every 50 shares of the Company’s common stock into one issued and outstanding share without any change in the par value of the shares. Following the reverse stock split, the number of outstanding shares of the Company’s common stock is anticipated to be proportionally reduced from approximately 22.2 million to approximately 0.4 million.

No fractional shares will be issued in connection with the reverse stock split. Any fractional shares of the Company’s common stock that would have otherwise resulted from the reverse stock split will be rounded up to the nearest whole share. Outstanding equity awards and the shares available for future grant under the Company’s Amended and Restated 2004 Equity Incentive Plan, 2011 Employee Stock Purchase Plan, 2014 Amended and Restated Equity Incentive Plan and 2015 New Employee Incentive Plan will be proportionately reduced (rounded down to the nearest whole share), and the exercise prices of outstanding equity awards will be proportionately increased (rounded up to the nearest whole cent) to give effect to the reverse stock split. The Company’s common stock will continue to trade on a post-split basis under the trading symbol “PSTV”.

As previously announced, the Company is required to evidence compliance with Nasdaq’s minimum bid or closing price requirement by August 26, 2019. Although the Company expects that the reverse stock split will enable the Company to comply with the Nasdaq listing and minimum bid price requirement, there can be no assurance that the Company will be able to regain such compliance. Delisting from the Nasdaq Capital Market could have a material adverse effect on the Company’s business and on the trading of its common stock.

About Plus Therapeutics, Inc.

Plus Therapeutics is a clinical-stage pharmaceutical company focused on making a positive impact on patients’ lives and adding value to the healthcare system. We are a Nasdaq-listed company with our company headquarters located in Austin, TX. We also have a manufacturing facility in San Antonio, TX and a satellite office in San Diego, CA.

The lead product candidate in our pipeline, DocePLUS, is being developed in the U.S. by a dedicated and energetic team of biologists, chemists, engineers, and other professionals. This diverse and experienced team is using our proprietary and versatile nanotechnology platform in an effort to reformulate and improve conventional, workhorse chemotherapeutics to provide meaningful benefits to patients and healthcare providers. The platform also serves as the foundation and affords us the opportunity in the future to develop additional drugs for oncology and other therapeutic areas.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Name & Symbol Change Plus Split 29 Jul 2019 09:17 #13076

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Not surprising on the 50 with the trouble they had for getting approval on this RS. I figured they would give themselves the maximum buffer, knowing that they would have little chance for approval for another one.
Now the shorts will have fun with this buffer. Long term holders here are totally screwed, new investors may have a chance to make some money here unless they muck up the new direction also which will not be surprising.

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Name & Symbol Change Plus Split 29 Jul 2019 11:59 #13077

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b767cpt wrote: Not surprising on the 50 with the trouble they had for getting approval on this RS. I figured they would give themselves the maximum buffer, knowing that they would have little chance for approval for another one.
Now the shorts will have fun with this buffer. Long term holders here are totally screwed, new investors may have a chance to make some money here unless they muck up the new direction also which will not be surprising.

/

B-7, my guess is that post split there will not be much interest by shorts with only 400,000 shares o/s - will not be liquid enough - could be wrong - we shall see.

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Name & Symbol Change Plus Split 29 Jul 2019 12:46 #13078

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Wow- 50! I wonder if there are minimum amounts of market cap to be listed on Nasdaq. :whistle: The stock only has to go down from about 10 to 1.5$ to reach the salary level of the CEO. I´ll bet they manage that too.


Funny Fas. Hedrick's salary will soon be greater than market cap.You think he gets a raise for the name change idea?

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Name & Symbol Change Plus Split 29 Jul 2019 20:09 #13079

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Busy most of today so missed the R/s announcement.
Wow RS, we were both off....LOL
The fun news is everyone still keeps at least 1 share....YEAH !!!

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Name & Symbol Change Plus Split 30 Jul 2019 07:07 #13082

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myownhedgefund wrote: Busy most of today so missed the R/s announcement.
Wow RS, we were both off....LOL
The fun news is everyone still keeps at least 1 share....YEAH !!!

/

"we both were off" - yes, but I was closer :yep: - LOL

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Name & Symbol Change Plus Split 31 Jul 2019 09:25 #13083

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LOL...yes you were.

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Name & Symbol Change Plus Split 01 Aug 2019 08:16 #13085

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rodney.strongg wrote:

myownhedgefund wrote: Busy most of today so missed the R/s announcement.
Wow RS, we were both off....LOL
The fun news is everyone still keeps at least 1 share....YEAH !!!

/

"we both were off" - yes, but I was closer :yep: - LOL


Well boys, I guess I get the prize. Too bad I didn’t have this kind of foresight before getting involved with this loser.
My post from Jul 19.

“Based on how hard it was for them to get approval for the upcoming RS, I wouldn’t be surprised to see them go for the max of 50 to provide a buffer before asking for another one.”

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Name & Symbol Change Plus Split 01 Aug 2019 11:50 #13086

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b767cpt wrote:

rodney.strongg wrote:

myownhedgefund wrote: Busy most of today so missed the R/s announcement.
Wow RS, we were both off....LOL
The fun news is everyone still keeps at least 1 share....YEAH !!!

/

"we both were off" - yes, but I was closer :yep: - LOL


Well boys, I guess I get the prize. Too bad I didn’t have this kind of foresight before getting involved with this loser.
My post from Jul 19.

“Based on how hard it was for them to get approval for the upcoming RS, I wouldn’t be surprised to see them go for the max of 50 to provide a buffer before asking for another one.”

/

B-7, I now recall your posting of the 50 - too bad you couldn't have made a wager in Vegas on that call - you probably would have gotten odds of at least 50 to 1 - congrats on the great call!

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Name & Symbol Change Plus Split 01 Aug 2019 19:25 #13088

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hehe...GREAT job b7 !!!! :winky: :cool:

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