Scilex Announces 1-for-35 Reverse Stock Split To Regain Nasdaq Compliance
(RTTNews) - Scilex Holding Company (SCLX), which develops non-opioid pain management products, Friday announced a 1-for-35 reverse stock split of its common stock, effective April 15, 2025.
The move aims to restore compliance with Nasdaq's $1.00 minimum bid price requirement.
Post-split, Scilex's stock will trade under the same ticker, "SCLX," with a new CUSIP number. The total outstanding shares will shrink from around 243 million to approximately 6.9 million. No fractional shares will be issued; instead, shareholders will receive cash for any fractional holdings based on the April 14 closing price.
The split also proportionately affects all convertible securities and stock options. It was approved by shareholders on March 19, 2025, giving the board the authority to set a ratio between 1-for-14 and 1-for-50. The board selected the 1-for-35 ratio on April 3.
SCLX is currently trading at $0.1848 or 26.0817% lower on the Nasdaq Capital Market.
