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Common Stock Will Begin Trading on a Split-Adjusted Basis on October 28, 2025
Enveric Biosciences (NASDAQ:ENVB) ("Enveric" or the "Company"), a biotechnology company advancing next-generation neuroplastogenic small molecules to address psychiatric and neurological disorders, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 12 pre-split shares. The reverse stock split will become effective at 8:00 a.m., New York time, on Tuesday, October 28, 2025. Enveric's common stock will continue to be traded on the Nasdaq Capital Market under the symbol "ENVB" and will begin trading on a split-adjusted basis when the market opens on Tuesday, October 28, 2025.
At the Company's annual meeting of stockholders on May 29, 2025, the Company's stockholders conditionally approved an amendment to the Company's Amended and Restated Certificate of Incorporation, as amended (the "Certificate of Incorporation"), to effect a reverse stock split of the Company's Common Stock at a ratio in the range of 1-for-5 to 1-for-50, upon the Company receiving a delisting determination from the Nasdaq Capital Market ("Nasdaq') for failure to maintain the required minimum bid price, with such ratio to be determined by the Company's board of directors (the "Board") and included in a public announcement. On October 22, 2025, the Company received a delisting determination from Nasdaq, and the Board determined to effect the reverse stock split at a ratio of 1-for-12 and approved the corresponding final form of the certificate of amendment.
At the effective time of the reverse stock split, every 12 shares of Enveric's issued and outstanding common stock will be converted automatically into one issued and outstanding share of common stock without any change in the par value per share. Stockholders holding shares through a brokerage account will have their shares automatically adjusted to reflect the 1-for-12 reverse stock split. It is not necessary for stockholders holding shares of the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish.
Posted In: ENVB
