They have four business days to file the 8K . I expect it sometime Monday but it won't have any surprises in it. Still the negative psychological aspects of the reverse split may come to a head now with approval and implementation. Companies don't reverse split from a position of strength. The RS is a big red flag that this company is have financial difficulties right now. And the name change is a feeble attempt to obfuscate that fact. One of the worst things you can do as a company is declare the need for a reverse split, ask for a reverse split, approve a reverse split and finally reverse split. It telegraphs a negative vibe certain groups of investors.
The bigger question is how are they going to raise that money and at what cost to the current shareholders. I'm not one BTW. We will know in the next few months and probably sooner. Hard to time this bottom but we aren't there yet.
I generally would agree with the negative connotations of a reverse split, but I also own SRPT and have owned it for a long time. A little over a year ago the stock was under $1 and the name was AVI Biopharma. They voted to change the name to Sarepta Therapeutics and did a 1/6 reverse split. My first reaction was to dump the stock but I decided to hold on since the reasons for buying in the first place were still there. You can see what has happened to the stock since then. That is not to say something like that will happen to APPA nor am I advocating buying or holding APPA for the chance this might happen, I am just saying that a reverse split does not necessarily mean everything is going downhill from here.