CollPlant Announces One-for-Ten Reverse Share Split; Stock Down
(RTTNews) - CollPlant Biotechnologies Ltd. (CLGN) on Tuesday approved a one-for-ten reverse share split of its ordinary shares, set to take effect when the Nasdaq Capital Market opens on September 4, 2026.
The move follows shareholder approval at the Extraordinary General Meeting held on August 18, 2026, and is part of CollPlant's strategy to regain compliance with Nasdaq's minimum bid price requirement for continued listing.
Upon effectiveness, every ten shares of CollPlant's outstanding ordinary shares will be converted into one share, with fractional shares rounded to the nearest whole share. Proportionate adjustment will also be made to outstanding warrants and options, and the new CUSIP number for the shares will be M2R51X124.
Shareholders holding their shares in book-entry or through brokers will not need to take action. Those with physical certificates will receive instructions from the company's transfer agent, Computershare Inc., to exchange them for new certificates.
CollPlant, headquartered in Rehovot, Israel, develops regenerative and aesthetic medicine solution using its proprietary rhCollagen technology. Its pipeline spans 3D bioprinting of tissues and organs, tissue repair, and medical aesthetics. Recently, the company also signed a definitive agreement to acquire LightSolver Ltd., an Israeli deep-tech firm pioneering laser-based computing architectures.
CLGN has traded between $0.26 and $3.18 over the past year. The stock closed Tuesday's trading at $0.37, down 3.94%. During overnight trading the stock is at $0.33, down 10.68%.
