ROSEVILLE, Minn., April 24,
2023 /PRNewswire/ -- Calyxt, Inc. (Nasdaq: CLXT)
("Calyxt" or the "Company") today announced that it has completed
the previously announced reverse stock split of Calyxt's common
stock, par value $0.0001 per share
("Common Stock"), at a ratio of 1-for-10. The reverse stock split
was previously approved by the Company's stockholders at the annual
meeting of shareholders on June 1,
2022.
Calyxt filed an amendment to its amended and restated
certificate of incorporation to effectuate the reverse stock split
as of 4:30 p.m. Eastern time on
April 24, 2023 (the "effective date")
and the Common Stock will begin trading on an adjusted basis giving
effect to the reverse stock split when the Nasdaq Capital Market
opens on April 25, 2023. The Common
Stock will continue trading on the Nasdaq Capital Market under the
symbol "CLXT," but will trade under a new CUSIP number
(13173L206).
As a result of the reverse stock split, every ten shares of
Common Stock issued and outstanding or held as treasury shares as
of the effective date were automatically combined into one share of
Common Stock. This reduced the number of outstanding shares of
Common Stock from approximately 49.7 million to approximately 5.0
million. The reverse stock split had no effect on the number of
shares of Common Stock authorized for issuance or on the par value
of the Common Stock.
Outstanding Calyxt equity-based awards under Calyxt's benefit
plans were proportionately adjusted. No fractional shares were
issued in connection with the reverse stock split and any
fractional shares resulting from the reverse stock split were
rounded up to the nearest whole share.
The Company's transfer agent, Broadridge Corporate Issuer
Solutions, Inc., is acting as exchange agent for the reverse stock
split. Registered stockholders holding pre-split shares of Common
Stock electronically in book-entry form are not required to take
any action to receive post-split shares. Stockholders owning Common
Stock via a broker, bank, custodian or other nominee will have
their positions automatically adjusted to reflect the reverse stock
split, subject to such broker's particular processes, and will not
be required to take any action in connection with the reverse stock
split. Such beneficial holders are encouraged to contact their
broker, bank or custodian with any procedural questions.
Additional information concerning the reverse stock split can be
found in Calyxt's definitive proxy statement filed with the
Securities and Exchange Commission (the "SEC") on April 19, 2022.
About Calyxt
Calyxt (Nasdaq: CLXT) is a plant-based synthetic biology
company. Calyxt leverages its proprietary PlantSpring™
technology platform and Plant Cell Matrix™ structures to
engineer plant metabolism to produce innovative high value
plant-based chemistries for use in customers' materials and
products. As plant-based solutions, Calyxt's synthetic biology
products can be used in helping customers meet their sustainability
targets and financial goals. Calyxt's diversified offerings are
primarily delivered through its proprietary BioFactory production
system. For more information, visit www.calyxt.com.
PlantSpring, Plant Cell Matrix, PCM, BioFactory, and the Calyxt
logo are trademarks of Calyxt, Inc. Any other trademarks belong to
their respective owners.
Contact
Bill Koschak
investors@calyxt.com
651-425-1754
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SOURCE Calyxt, Inc.