CEL-SCI authorizes 1-for-25 reverse stock split
CEL-SCI announced that during its annual Shareholder's Meeting on June 12, 2017, a 1-for-25 reverse split was authorized for its outstanding shares of common stock. CEL-SCI expects the split to be implemented on June 15, 2017. When the market opens on June 15, 2017, the common stock will trade under a new CUSIP number 150837 607 but the company's ticker symbol, CVM, will remain unchanged. The CUSIP number for public warrants will remain the same and the warrant's ticker symbol, CVM WS, will also remain unchanged. When the reverse stock split becomes effective, every 25 shares of common stock will be converted into 1 share of common stock. The reverse stock split will not eliminate any shareholders of record since any fractional share resulting from the reverse stock split will be rounded to the nearest whole share. The exercise price for the warrants that trade under the symbol CVM WS will be adjusted from $1.25 to $31.25 and 25 warrants will be required to purchase one share. The exercise price of all other outstanding warrants and options, as well as the shares issuable upon the exercise of the outstanding warrants and options, will also be proportionately adjusted.