WEXFORD,
Pa., Dec. 27, 2024 /PRNewswire/ -- Coeptis
Therapeutics Holdings, Inc. (Nasdaq: COEP) (the "Company" or
"Coeptis"), a biopharmaceutical company focused on pioneering cell
therapy platforms for cancer, autoimmune, and infectious diseases,
today announced it will proceed with a 1-for-20 reverse stock split
(the "Reverse Split") of its issued and outstanding shares of
common stock, par value $0.0001,
following authorization by its board of directors (the "Board") and
majority stockholders to effect a reverse stock split by a ratio of
not less than 1-for-3 and not more than 1-for-40 (the "Reverse
Split Range"), with the Board having the discretion as to whether
or not the Reverse Split is to be effected, and the exact ratio to
be set at a whole number within the Reverse Split Range.
The first day of trading on a post-split basis on the Nasdaq
Capital Market, will be at market open on December 31, 2024.
Upon the effective date of the Reverse Split, every 20 shares of
the Company's outstanding and issued common stock will be converted
into one share of outstanding and issued common stock. No
fractional shares will be issued as a result of the reverse stock
split. Instead, any fractional shares for record holders that would
have resulted from the split will be rounded up to the next whole
number. The Reverse Split will not alter any stockholder's
percentage interest in the Company's outstanding common stock,
except for adjustments that may result from the treatment of
fractional shares and will affect all stockholders uniformly.
The Reverse Split is intended to help the Company meet the
minimum bid price requirement necessary to maintain its listing on
the Nasdaq Capital Market. Under Nasdaq Capital Market rules, a
listed company's stock must maintain a minimum bid price of at
least $1.00 per share.
The Reverse Split was approved by the Company's stockholders at
the Company's Annual Stockholder's Meeting on December 18, 2024, following which meeting the
Board then established the reverse split ratio and authorized the
reverse split to proceed.
Continental Stock Transfer is acting as the exchange agent and
transfer agent for the reverse stock split and will send
instructions to stockholders of record who hold stock certificates
regarding the exchange of their old certificates for new
certificates, should they wish to do so. Stockholders who hold
their shares in brokerage accounts or "street name" are not
required to take any action to affect the exchange of their
shares.
About Coeptis Therapeutics Holdings, Inc.
Coeptis
Therapeutics Holdings, Inc., together with its subsidiaries
including Coeptis Therapeutics, Inc., Coeptis Pharmaceuticals,
Inc., GEAR Therapeutics, Inc. and SNAP Biosciences, Inc.
(collectively "Coeptis"), is a biopharmaceutical company developing
innovative cell therapy platforms for cancer, autoimmune, and
infectious diseases that have the potential to disrupt conventional
treatment paradigms and improve patient outcomes. Coeptis' product
portfolio is highlighted by assets licensed from Deverra
Therapeutics, including an allogeneic cellular immunotherapy
platform and DVX201, a clinical-stage, unmodified natural killer
cell therapy technology. Additionally, Coeptis is developing a
universal, multi-antigen CAR technology licensed from the
University of Pittsburgh (SNAP-CAR),
and the GEAR cell therapy and companion diagnostic platforms in
collaboration with VyGen-Bio and leading medical researchers at the
Karolinska Institute. The Company is
headquartered in Wexford, PA. For
more information on Coeptis visit https://coeptistx.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release and statements of our
management made in connection therewith contain or may contain
"forward-looking statements" (as defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended). Forward-looking
statements include statements concerning our plans, objectives,
goals, strategies, future events or performance, and underlying
assumptions, and other statements that are other than statements of
historical facts. When we use words such as "may," "will,"
"intend," "should," "believe," "expect," "anticipate," "project,"
"estimate" or similar expressions that do not relate solely to
historical matters, we are making forward-looking statements.
Forward-looking statements are not a guarantee of future
performance and involve significant risks and uncertainties that
may cause the actual results to differ materially and perhaps
substantially from our expectations discussed in the
forward-looking statements. Factors that may cause such differences
include but are not limited to: (1) the inability to maintain the
listing of the Company's securities on the Nasdaq Capital Market;
(2) the inability to recognize the anticipated benefits of the
Deverra licensed assets, which may be affected by, among other
things, competition, the ability of the Company to grow and manage
growth economically and hire and retain key employees; (3) the
risks that the Company's products in development or the
newly-licensed assets fail clinical trials or are not approved by
the U.S. Food and Drug Administration or other applicable
regulatory authorities; (4) costs related to ongoing asset
development including the Deverra licensed assets and pursuing the
contemplated asset development paths; (5) changes in applicable
laws or regulations; (6) the possibility that the Company may be
adversely affected by other economic, business, and/or competitive
factors; and (7) the impact of the global COVID-19 pandemic on any
of the foregoing risks and other risks and uncertainties identified
in the Company's filings with the Securities and Exchange
Commission (the "SEC"). The foregoing list of factors is not
exclusive. All forward-looking statements are subject to
significant uncertainties and risks including, but not limited, to
those risks contained or to be contained in reports and other
filings filed by the Company with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings made or to be made
with the SEC, which are available for review at www.sec.gov. We
undertake no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof unless required by applicable laws, regulations, or
rules.
Contacts
IR@coeptistx.com
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SOURCE Coeptis Therapeutics, Inc.
