On May 19, Calyxt, Inc. announced the results of its special meeting of its stockholders, where the stockholders voted in favor of the proposal to approve the issuance of shares of a Class A common stock and Class B common stock to the equity holders of Cibus Global, LLC, according to a release.
The closing of the merger is anticipated to take place Wednesday, May 31, subject to the satisfaction of the remaining closing conditions. After the merger closes, the combined company will change its name from Calyxt to Cibus, Inc. and be led by Cibus’ existing management team.
In addition, Calyxt announced that it will affect a 1-for-5 reverse stock split of its common stock that is expected to be effective concurrent with the closing date of the merger. The new CUSIP number for the combined company’s common stock following the merger and the reverse stock split is 17166A 101, the release says.
While the reverse stock split is effective, every five shares of the company’s common stock issued and outstanding of held as treasury shares as of the effective date will be automatically combined into one share of Calyxt common stock. It will not affect the number of shares of Calyxt common stock authorized for issuance or the par value of the company’s common stock.
