Vincerx Pharma (NASDAQ:VINC) Implements 1-for-20 Reverse Stock Split

Vincerx Pharma, Inc., a biopharmaceutical company focused on developing innovative therapeutics for cancer patients, announced a significant corporate action regarding its common stock. At a special meeting of stockholders on January 16, 2025, Vincerx’s stockholders voted in favor of a reverse stock split, with a range of 1 share for every 10 shares up to 1 share for every 20 shares. Subsequently, on January 16, 2025, Vincerx’s Board of Directors approved a 1-for-20 reverse stock split, also known as the “Reverse Stock Split.”

This Reverse Stock Split is scheduled to take effect on January 27, 2025, at 4:01 p.m., Eastern Time, with trading on a split-adjusted basis to commence on January 28, 2025, on The Nasdaq Stock Market under the existing ticker symbol VINC, featuring the new CUSIP number 92731L304.

As per the terms of the reverse split, every twenty existing shares of Vincerx’s common stock will be consolidated into one share, reducing the total number of issued shares from approximately 44.8 million to around 2.2 million shares, excluding any fractional shares. In the case of fractional shares, stockholders will receive a cash payment in lieu thereof. Additionally, adjustments will be made to outstanding equity awards, warrants, and equity incentive plans, preserving the total value of each holder’s stake in the company post-split.

Continental Stock Transfer & Trust Company will act as the exchange agent for the Reverse Stock Split. Stockholders with shares held in book entry format or through a brokerage account will witness an automatic adjustment, while those with stock certificates will receive instructions on the necessary steps to take post-split.

To inform the public about this corporate action, Vincerx issued a press release on January 23, 2025, which details the logistics and implications of the Reverse Stock Split. Additional information regarding this event can be found in Vincerx’s proxy statement filed with the Securities and Exchange Commission on December 10, 2024.

Vincerx’s motivation for this reverse stock split aligns with its commitment to enhancing shareholder value and maintaining compliance with regulatory requirements. Moving forward, Vincerx continues to advance its pipeline of novel therapies, including ADCs, small molecule drug conjugates, and bioconjugation platforms, to address the unmet needs of cancer patients.

Please note that forward-looking statements in this release are subject to risks and uncertainties detailed in Vincerx’s filings with the Securities and Exchange Commission. The Company cautions against relying excessively on these statements, as actual results may vary.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vincerx Pharma’s 8K filing here.

About Vincerx Pharma

Vincerx Pharma, Inc, a clinical-stage biopharmaceutical company, researches and develops therapies to address unmet medical needs for the treatment of cancer in the United States. It is developing enitociclib, a cyclin-dependent kinase-9 inhibitor that is in Phase 1 clinical trials for treating patients with hematologic malignancies; and VIP236, a small molecule drug conjugate that is in Phase 1 clinical trials to treat solid tumors.