Alexza Pharmaceuticals announces 10 for 1 reverse stock split

theflyonthewall.com

Alexza Pharmaceuticals announced a 10-for-1 reverse split of its common stock. The reverse stock split became effective today at 5:01 p.m. Eastern Time and Alexza's common stock will begin trading on The NASDAQ Global Market on a split-adjusted basis when the market opens on Wednesday, June 13. At the effective time of the reverse stock split, every ten shares of Alexza's issued and outstanding common stock converted automatically into one issued and outstanding share of common stock, without any change in the par value per share. The reverse stock split reduced the number of shares of Alexza's common stock outstanding from approximately 119.6M-12.0M. In addition, the reverse stock split effected a proportionate adjustment to the per share exercise price and the number of shares issuable upon the exercise or settlement of all outstanding options, restricted stock units and warrants to purchase or acquire shares of Alexza's common stock, and the number of shares reserved for issuance pursuant to Alexza's existing equity incentive and employee stock purchase plans were reduced proportionately.

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