(RTTNews) - Psyence Biomedical Ltd. (PBM) announced that it had elected to delay the effective date of its 1-for-6.25 reverse stock split to February 2, 2026, from the earlier announced date of January 20, 2026.
Following the news, PBM was down 5.05% to $0.73 in the overnight trade.
As previously disclosed, the board approved a 1-for-6.25 reverse stock split, which was intended to take effect at the opening of the market on January 20, 2026. However, following internal consideration, the company's common shares are expected to begin trading on a post-consolidated basis at the market open on February 2, 2026.
As of January 21, 2026, the company had 6.39 million common shares issued and outstanding. As a result of the consolidation, the company will have 1.02 million common shares issued and outstanding.
On December 4, 2025, the board approved a 1-for-6.25 share consolidation. At the effective time of the consolidation, every 6.25 issued and outstanding shares of the Company will automatically be combined into one issued and outstanding common share.
And following the consolidation, Psyence's common shares will continue to trade under the symbol PBM on the Nasdaq Capital Market, with a new CUSIP number 74449F407.
The stock closed Wednesday's trade at $0.77, up 22.01%.
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