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InMed Announces Share Consolidation to Satisfy Nasdaq Listing Rules
InMed Pharmaceuticals (NASDAQ: INM) has announced a 1-for-20 share consolidation to regain compliance with Nasdaq's listing requirements. The consolidation will reduce outstanding shares from 14,361,550 to approximately 718,078 common shares. The post-consolidation shares are expected to begin trading on Nasdaq Capital Market on November 15, 2024. The trading symbol 'INM' will remain unchanged. Exercise prices and number of shares for outstanding options, warrants, and convertible securities will be adjusted proportionally. No fractional shares will be issued, with fractions less than half being cancelled and those half or greater rounded up.
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