Oragenics announces reverse stock split
Oragenics announced a reverse split of its common stock, $0.001 par value, at a ratio of 1 for 10, effective January 19, 2018. The company's common stock will begin trading on a split-adjusted basis when the markets open on January 22, 2018 under the existing trading symbol "OGEN". As a result of the reverse split, each 10 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from approximately 49 million shares to approximately 4.9 million shares. The reverse split will also apply to common stock issuable upon the exercise of the company's outstanding stock options. In addition, the Company also announced that the authorized common stock of the company will be decreased from 450 million to 45 million shares. The authorized preferred stock will remain at 50,000,000 shares. The common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not affect the par value of the common stock.