(RTTNews) - VYNE Therapeutics Inc. (VYNE) said Tuesday that its board has approved a 1-for-50 reverse stock split in connection with the planned merger with Yarrow Bioscience, Inc.
The reverse stock split is expected to reduce VYNE's outstanding common shares from about 33.4 million to roughly 0.7 million shares.
The merger is expected to close on July 24, 2026. Following completion, the combined company is expected to begin trading on the Nasdaq Capital Market on July 27 under the name Yarrow Bioscience, Inc. and the ticker symbol YARW.
VYNE also updated on a previously announced special cash dividend. The company said it will pay a dividend of about $0.40242 per share, to shareholders of record as of July 22. The dividend is expected to be paid on July 23, with Nasdaq expected to set July 24 as the ex-dividend date.
Following the reverse stock split and merger closing, the combined company is expected to have about 2.7 million shares outstanding, or approximately 33.6 million shares on a fully diluted basis.
VYNE shares were down nearly 8% in pre-market trading after closing at $0.8078 on Monday.
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