Tenax Therapeutics Inc (TENX)

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08:23 AM EST, 02/23/2018 (MT Newswires) -- Tenax Therapeutics(TENX) , a specialty pharmaceutical company, said Friday it will implement a reverse stock split of its shares of common stock at a ratio of 1-for-20 that will take effect Feb. 26. The reverse stock split was approved by stockholders and the board of directors on Feb. 15.

In September, Tenax received a notice from Nasdaq granting the company an additional 180 calendar days, or until March 12, to regain compliance with the minimum $1.00 bid price per share requirement. The reverse stock split is intended to increase the market price per share to help ensure a share price high enough to satisfy the minimum bid price requirement.

As a result of the reverse stock split, every 20 shares of Tenax's common stock issued and outstanding on the effective date will be combined into one issued and outstanding share, with no change in the nominal par value per share of $0.0001.

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