Aspira Women’s Health Inc. (“Aspira”) (NASDAQ:AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic, tools, today announced a 1-for-15 reverse stock split of its outstanding common stock, effective at 12:01 am Eastern time on May 11, 2023. Beginning tomorrow, May 12, 2023, the Company’s common stock will trade on a split-adjusted basis.
At the Company’s Annual Meeting of Stockholders meeting held on May 9, 2023, the Company’s stockholders approved a proposal to its Amended and Restated Certificate of Incorporation to effect a reverse stock split of its outstanding shares of common stock, par value $0.001 per share, by a ratio of any whole number between 1-for-10 to 1-for-20, the implementation and timing of which was subject to the discretion of the Company’s Board of Directors. On May 9, 2023, the Board of Directors approved a 1-for-15 reverse split, and on May 11, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to affect the reverse stock split.
The Company’s Board of Directors implemented the reverse stock split with the objective of regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Capital Market. To comply with this requirement, the closing bid of the Company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days prior to May 29, 2023. The Company has until May 29, 2023, to comply with this requirement.
The Company’s shares of common stock will continue to trade on the NASDAQ under the symbol “AWH.” The new CUSIP number for the Company’s common stock post-reverse stock split is 04537Y 208.
Upon the effectiveness of the reverse stock split, every 15 shares of the Company’s issued and outstanding common stock will automatically be converted into one share of common stock. Any fraction of a share of common stock that would be created as a result of the reverse stock split will be paid out.
