In connection with the completion of the merger, Dipexium effected a reverse stock split of its issued and outstanding shares of common stock at a ratio of 1-for-8. The holders of shares of PLx common stock outstanding immediately prior to the merger received, as merger consideration, shares of common stock in the combined company representing 76.75% of the outstanding shares of the combined company. Immediately following the merger, there were 6,037,824 shares of common stock of the combined company outstanding.
The combined company will continue to operate under the leadership of the PLx management team with Michael Valentino serving as Executive Chairman of the Board of Directors and Natasha Giordano serving as President and Chief Executive Officer.
