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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 27, 2023
Seelos Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
| Nevada |
|
000-22245 |
|
87-0449967 |
(State or Other Jurisdiction of
Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification
No.) |
| 300
Park Avenue, 2nd Floor,
New York, NY |
|
10022 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code: (646) 293-2100
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities Registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
| Common Stock, $0.001 par value |
SEEL |
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.03. Material Modification to Rights of Security Holders.
To the extent required by
Item 3.03 of Form 8-K, the information contained in Item 5.03 herein is incorporated by reference into this Item 3.03.
Item 5.03. Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
On November 27,
2023, Seelos Therapeutics, Inc. (the “Company”) filed a Certificate of Change (the “Certificate of Change”)
with the Secretary of State of the State of Nevada to (i) effect a 1-for-30 reverse stock split (the “Reverse Stock Split”)
of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “Common Stock”), and
(ii) decrease the number of total authorized shares of Common Stock from 480,000,000 shares to 16,000,000 shares.
As a result of the Reverse
Stock Split, every thirty (30) shares of the Company’s pre-Reverse Stock Split Common Stock will be combined into one (1) share
of the Company’s post-Reverse Stock Split Common Stock, without any change in par value per share. Proportionate voting rights and
other rights of common stock holders will not be affected by the Reverse Stock Split. No fractional shares will be issued in connection
with the Reverse Stock Split, and fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share.
The Reverse Stock Split
is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued
listing on the Nasdaq Capital Market. The Reverse Stock Split was effective at 12:01 a.m., Eastern Time, on November 28, 2023, and
the Company’s common stock is expected to begin trading on a Reverse Stock Split-adjusted basis on the Nasdaq Capital Market at
the opening of the market on November 28, 2023. The trading symbol for the common stock will remain “SEEL,” and the new
CUSIP number of the Company’s common stock following the Reverse Stock Split is 81577F208.
The Company’s transfer
agent, Equiniti Trust Company, LLC, is acting as the exchange agent for the Reverse Stock Split.
In addition, the Reverse
Stock Split will apply to the Company’s common stock issuable upon the exercise of the Company’s outstanding warrants and
stock options, with proportionate adjustments to be made to the exercise prices thereof, as applicable. Furthermore, the number of shares
of common stock available for issuance under the Company’s equity incentive plans will be proportionately adjusted for the Reverse
Stock Split ratio, such that fewer shares will be subject to such plans.
The summary of the Certificate
of Change does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Change,
a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
Seelos Therapeutics, Inc. |
| |
|
| |
|
| Date: November 28, 2023 |
By: |
/s/ Michael Golembiewski |
| |
|
Name: Michael Golembiewski |
| |
|
Title: Chief Financial Officer |
