RANCHO CORDOVA, Calif., Aug. 26 /PRNewswire-FirstCall/ —
ThermoGenesis Corp. (Nasdaq:
KOOL), a leading supplier of innovative products and services
that process and store adult stem cells, said it has filed a
Certificate of Amendment to its Amended and Restated Certification
of Incorporation to effect its previously announced one-for-four
reverse stock split of its common stock.
The split-adjusted shares of the Company’s common stock will
begin trading on the NASDAQ tomorrow. The Company’s shares will
continue to trade under the symbol “KOOL,” with a “D” added for 20
trading days to signify the reverse stock split has occurred. A new
CUSIP number has been assigned to the Company’s common stock as a
result of the reverse stock split.
The one-for-four reverse stock split will convert all shares of
the Company’s common stock issued and outstanding, plus all
outstanding stock options, restricted stock and the number of
shares of common stock available for issuance under the Company’s
approved stock plans.
The reverse split was approved by the Company’s stockholders at
a special meeting and authorized by its Board of Directors on
August 9, 2010. It will reduce the Company’s outstanding common
stock from approximately 56.1 million shares, as of its most recent
quarterly report on Form 10-Q, to approximately 14.0 million
“We appreciate the support of our stockholders in approving this
authorization,” said J. Melville Engle, Chief Executive officer of
ThermoGenesis. “We ended fiscal 2010 in strong fashion and believe
the programs we have in place will result in a successful fiscal
2011 and lead to enhanced long term stockholder value as we
continue our focus on the development of enabling technologies for
the stem cell regenerative medicine market,” he added.
The Company said a reverse split may enable it to meet the
continued listing rules of the