RegeneRx Effects Reverse Stock Split and Terminates SEC Reporting Obligations

Rhea-AI Summary

RegeneRx Biopharmaceuticals, Inc. has executed a 1-for-100 reverse stock split and filed Form 15 to suspend and terminate its obligations to file reports with the SEC. Stockholders will receive information from the transfer agent regarding exchange of pre-split stock certificates for post-split certificates and issuance of cash for fractional shares. Future updates will be posted on the company's website.

ROCKVILLE, Md., Aug. 15, 2023 /PRNewswire/ -- RegeneRx Biopharmaceuticals, Inc. (OTC: RGRX) ("RegeneRx" or the "Company"), a clinical-stage drug development company focused on tissue protection, repair, and regeneration, announced that it has today effected a 1-for-100 reverse split in the outstanding shares of Common Stock of the Company and has filed the requisite Form 15 to suspend and terminate the Company's continued obligations to file reports with the SEC pursuant to Sections 13(d) and 15(d) of the Securities Exchange Act of 1934, as amended.

The Company expects that stockholders of record will receive information from the Company's transfer agent, American Stock Transfer & Trust Company, regarding exchange of pre-split stock certificates for post-split certificates and issuance of cash, if any, due for fractional shares canceled as a result of the reverse stock split.  Stockholders owning the Company's Common Stock in "street name" should obtain this information from their respective broker-dealers.

Future information of interest to stockholders may be posted periodically on the Company's website, www.regenerx.com.

Any questions can be directed to Mr. J.J. Finkelstein at 301.208.9191 or by email to jjfnk@regenerx.com.

Forward-Looking Statements

Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Please view risks described in the Company's past filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" section of the annual report on Form 10-K for the year ended December 31, 2022, and the subsequent quarterly reports filed on Form 10-Q, as well as other filings the Company has made with the SEC, prior to the date hereof. As the Company is no longer subject to SEC reporting, there is no assurance that the Company will maintain on its website or with broker-dealers the requisite current public information to permit public trading in the Company's Common Stock. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.

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SOURCE RegeneRx Biopharmaceuticals, Inc.

FAQ

What did RegeneRx Biopharmaceuticals announce?

RegeneRx Biopharmaceuticals announced a 1-for-100 reverse stock split and the filing of Form 15 to suspend and terminate its obligations to file reports with the SEC.

What will stockholders receive as a result of the reverse stock split?

Stockholders will receive information from the transfer agent, American Stock Transfer & Trust Company, regarding the exchange of pre-split stock certificates for post-split certificates and the issuance of cash for fractional shares.

Where can stockholders find future updates?

Stockholders can find future updates on the company's website at www.regenerx.com.