Navigation Links
Spherix to Effect Reverse Stock Split
Date:4/19/2011

BETHESDA, Md. April 19, 2011 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX), an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced that its Board of Directors, pursuant to previously obtained stockholder authorization, approved a reverse split of its common stock at a ratio of 1 for 10, with a planned effective date of May 6, 2011.

Accordingly, as of the effective date, each 10 shares of issued and outstanding common stock and equivalents will be converted into one share of common stock. The Company's ticker symbol will be appended with a "D" to indicate the completion of the reverse stock split, and after a 20 trading-day period following effectiveness of the reverse split the ticker symbol will revert to "SPEX." In addition, the common shares will also trade under a new CUSIP number. The reverse stock split will become effective upon the filing of a Certificate of Amendment to the Company's Certificate of Incorporation with the Secretary of State of the State of Delaware.

Spherix stockholders will receive instructions from their broker or from Spherix's transfer agent, American Stock Transfer & Trust Company, LLC, containing the appropriate reverse stock split procedures. Fractional stockholdings will be paid out in cash based on Spherix's closing stock price on the effective date. As a result of the reverse stock split, the number of outstanding common shares will be reduced to approximately 2.5 million. The reverse stock split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of Spherix's common shares (except to the extent that the reverse stock split will result in some of the stockholders receiving cash in lieu of one or more fractional shares). Further information on the logistics regarding the rev
'/>"/>

SOURCE Spherix Incorporated
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Spherix Announces 2010 Financial Results
2. Spherix to Present at the BIO-Windhover/Pharmaceutical Strategic Outlook 2011 Conference
3. Spherix to Present at the 13th Annual BIO CEO & Investor Conference
4. Spherix Announces Closing of Registered Direct Offering of $2.77 Million in Common Stock and Warrants
5. Spherix to Present at Two Upcoming Prominent Finance Conferences
6. Spherix Phase 2 Trial with D-tagatose Determines Minimum Dose for HbA1c and Triglycerides
7. Spherix Signs Research Contract With a Leading Global Contract Research Organization to Investigate Role of D-tagatose in Lowering Triglycerides
8. Spherix to Hold Business Update Conference Call December 9, 2010 at 4:30 p.m. Eastern Time
9. Spherix Announces Closing of Institutional Investors Purchase of $5.25 Million of Convertible Preferred Stock and Warrants
10. Spherix Announces Statistically Significant Results in Phase 3 Study With D-tagatose in Type 2 Diabetes
11. Spherix Announces Second Quarter 2010 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/30/2014)... (PRWEB) September 30, 2014 On September 11, ... James Sherley in anticipation of a session that he will ... Toxicology Summit,” scheduled for February 17-18, 2015 in London. ... Pharma IQ asked Dr. Sherley to respond to several questions ... toxicity, challenges to evaluating stem cell toxicity, and future trends ...
(Date:9/29/2014)... CA (PRWEB) September 30, 2014 ... million burn injuries require medical attention. In the ... brings serious complications to battlefield medical care. More ... Iraq and Afghanistan. Burn wounds heal slowly, remain ... can be excessive, physically debilitating and functionally damaging. ...
(Date:9/29/2014)... TORONTO , Sept. 29, 2014 /PRNewswire/ - Portage Biotech ... Exchange: PBT.U), is pleased to announce that its three ... of Portage, who advanced $ 100,000 each in July ... have their Notes and related Coupons converted into 3,500,001 ... and carried 5% coupon. Both the Note and the ...
(Date:9/29/2014)... 29, 2014 Transparency Market Research, in ... SPPS, LPPS, HPPS, by Application - Cancer, Metabolic, CVS, ... and by Delivery) - Global Industry Analysis, Size, Share, ... the global peptide therapeutics market was worth US$14.1 billion ... by 2018 at an 8.7% CAGR. , The two ...
Breaking Biology Technology:Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 2Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 3Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 4Faster Healing with Fewer Scars 2Portage announces conversion of its debt into equity 2Portage announces conversion of its debt into equity 3Global Peptide Therapeutics Market to be Worth US$25.4 Billion by 2018: Transparency Market Research 2Global Peptide Therapeutics Market to be Worth US$25.4 Billion by 2018: Transparency Market Research 3
... Sequella, Inc., a clinical-stage biopharmaceutical company focused on ... today announced that it received a $594,661 two-year ... National Institutes of Health (NIH), National Institute of ... of SQ641, Sequella,s lead compound in its capuramycin ...
... Dr. Michael Merzenich , PhD - ... plasticity expert and tech entrepreneur - was formally ... D.C. Also a member of the National Academy of Sciences, ... and doctors in the U.S. who have been selected for ...
... CITY, England, October 12 , ... and Milestones Plus,Royalties , Heptares Therapeutics ... announced today that it has,entered into an option agreement with ... StaR(TM) technology to generate novel,drug leads against a nominated, unspecified ...
Cached Biology Technology:Sequella Obtains Funding to Continue Expansion of its Anti-infectives Pipeline 2Sequella Obtains Funding to Continue Expansion of its Anti-infectives Pipeline 3Dr. Michael Merzenich Joins Venerable Short List Honored for Cutting-Edge Neuroscientific Research 2Dr. Michael Merzenich Joins Venerable Short List Honored for Cutting-Edge Neuroscientific Research 3Heptares Therapeutics Announces Agreement With Novartis Option Fund to Apply its StaR(TM) Technology and Generate Novel Drug Leads Against a GPCR Target 2Heptares Therapeutics Announces Agreement With Novartis Option Fund to Apply its StaR(TM) Technology and Generate Novel Drug Leads Against a GPCR Target 3
(Date:9/30/2014)... National Institutes of Health (NIH) awarded Lawrence Livermore ... an electrode array system that will enable researchers ... unprecedented resolution and scale. , LLNL,s grant-funded project ... Obama,s BRAIN (Brain Research through Advancing Innovative ... revolutionize our understanding of the human mind and ...
(Date:9/30/2014)... professor and Howard Hughes Medical Institute investigator, and ... recipients in the 2014 round of grants from ... BRAIN (Brain Research through Advancing Innovative Neurotechnologies) Initiative ... September 30, provides more than $3 million in ... , The BRAIN Initiative, launched last year, is ...
(Date:9/30/2014)... of environmental scientists and engineers, led by Clemson ... three-year, $5.25 million grant from the U.S. Department ... to make a direct positive impact on South ... disposal of radioactive contaminants. , "Understanding the scientific ... with environmental aspects of nuclear technologies is imperative ...
Breaking Biology News(10 mins):NIH taps lab to develop sophisticated electrode array system to monitor brain act 2NIH taps lab to develop sophisticated electrode array system to monitor brain act 3Salk scientists receive $3 million for BRAIN Initiative grant 2Researchers get $5.25 million to advance nuclear technologies in South Carolina 2
... produce increases, vegetable and fruit producers are facing ... challenged to examine traditional production practices in order ... A recent focus on both the positive and ... the globe working to find methods that can ...
... Motor commands issued by the brain to activate arm ... led by Professor Silvia Arber at the University of ... Research has now discovered, many neurons in the spinal ... but at the same time also back to the ...
... Drosophila (fruit fly) can be synchronised using vibrations, ... . The results suggest that an animal,s own movements can ... daily rhythms characterising most of our bodily functions including the ... and temperature. Researchers at UCL and Queen Mary, University ...
Cached Biology News:Nitrogen management studied in greenhouse pepper production 2Cc to the brain: How neurons control fine motor behavior of the arm 2Cc to the brain: How neurons control fine motor behavior of the arm 3
... The Zero Blunt TOPO ... Sequencing is designed for ... of blunt-end PCR products. ... 5-minute TOPO Cloning and ...
... Blunt TOPO PCR Cloning ... designed for cloning and ... PCR products. The pCR4Blunt-TOPO ... Cloning and greater than ...
... EA. Ultrospec 6300 pro UV/Visible ... the Pharmacopoeia in terms of instrument specification ... being able to be used for rapid, ... excellent scanning capability., *Press to read high ...
...
Biology Products: