Reverse Splits

[sludgehound]

PLX Protalix BioTherapeutics proxy for 1-10 to 1-20
Today 4:30PM ET

https://seekingalpha.com/filing/4664626

As part of our efforts to preserve our ongoing clinical development and to realize future benefits of commercial success, our Board of Directors, along with our Management team, have determined that it is in the company’s best interest to make certain changes to our capital structure. Accordingly, we have filed a proxy statement asking our stockholders to approve an amendment to our Certificate of Incorporation proposing the following two changes:
1)
A reverse stock split at a ratio of not less than 1-for-10 and not greater than 1-for-20, with the exact ratio to be set within that range at the discretion of our Board of Directors before the day prior to the special meeting of stockholders without further approval or authorization of our stockholders.
2)
A reduction in the total number of shares of our common stock that we are authorized to issue from 350 million to 120 million shares.
If the proposal to amend our certificate of incorporation is approved, our Board of Directors will set the timing for the reverse stock split and select the specific ratio from within the preceding range of ratios.