On March 14, 2017, Generex Biotechnology Corporation (referred to as the “Company” or “Generex”) effected a reverse stock split of its shares of common stock, par value $.001 pershare at a ratio of 1-for-1000. The common stock began trading in the over the counter market on a reverse stock split-adjusted basis at the open of the market on March 14, 2017.
There was no change in the Company’s ticker symbol, “GNBT,” as a result of the reverse Stock split. In connection with the reverse stock split, the CUSIP number for the common stock has been changed to 371485301.
The reverse stock split was previously authorized at a meeting of the Company’s stockholders on August 19, 2015 and the Company’s Board of Directors approved the ratio on December 27, 2016. The requisite Certificate of Amendment to the Company’s Restated Certificate of Incorporation was filed with the Delaware Secretary of State on December 30, 2016 (subject to approval by the Financial Industry Regulatory Authority (FINRA)). The Certificate of Amendment reduced the number of authorized shares of common stock from 2,450,000,000 to 2,450,000. While the amendment to the restated Certificate of Incorporation was filed on December 30, 2016, the reverse stock split could not be effected until the Company received approval from FINRA, which the Company has received.
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