News Column

Advanced Cell Technology Announces 1:100 Reverse Stock Split

September 10, 2014



By a News Reporter-Staff News Editor at Biotech Week -- Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative medicine, announced that it has completed a 1:100 reverse split of its common stock (see also Advanced Cell Technology, Inc.).

"Completing this reverse stock split is an important step in our plan to improve our corporate structure and establish ACT as a highly-regarded, publicly-traded biotechnology company. With continued progress in many of our clinical and pre-clinical programs, the Lincoln Park equity facility in place and Dr. Wotton's arrival as CEO, this initiative is part of a larger strategy to up-list to a national stock exchange and to raise awareness and visibility with fundamental-based, institutional biotech investors," said Ted Myles, ACT's Chief Financial Officer and Chief Operating Officer.

As a result of the reverse stock split, every 100 shares of the Company's pre-reverse stock split common stock were combined and reclassified into one share of the Company's common stock. Beginning with the opening of trading on August 28, 2014, the Company's common stock will trade on the OTC Markets Group on a reverse stock split adjusted basis.

Keywords for this news article include: Advanced Cell Technology, Advanced Cell Technology Inc., Technology.

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Source: Biotech Week


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