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Columbia Laboratories announces one-for-eight reverse stock split

Columbia Laboratories announced a 1-for-8 reverse split of its Common Stock, par value 1c per share, effective tomorrow, August 9. The reverse stock split was approved by the company’s stockholders at its annual meeting of stockholders. The specific 1-for-8 ratio was subsequently announced by the company’s board on July 26. On August 7, the company filed a certificate of amendment to its restated certificate of incorporation with the Secretary of the State of Delaware. No fractional shares will be issued as a result of the reverse stock split. Stockholders who otherwise would be entitled to receive a fractional share in connection with the reverse stock split will receive a cash payment in lieu of such fractional share.