Last week, specialty medical device and pharmaceutical company Derma Sciences, Inc. announced that its shareholders granted Derma Sciences’ Board of Directors the authority to implement a reverse stock split in the range of 1-to-5 and 1-to-10.
Derma Sciences’ Board of Directors anticipates the reverse split to occur in the near future. The precise reverse split ratio will be determined in accordance with the then prevailing market conditions.
For the 20-day period following implementation of the reverse split, Derma Sciences’ ticker symbol will be “DSCID” to reflect the post-split price. Following that period, the ticker symbol will revert to “DSCI.”
Ed Quilty, Chairman and CEO of Derma Sciences, commented, “We have filed an application to list our stock on the NASDAQ Global Market or NASDAQ Capital Market. The reverse stock split our stockholders approved at today’s special meeting will enable Derma Sciences to meet the minimum share-price requirements of the NASDAQ listing.”