Navidea Biopharmaceuticals Inc. has announced an extension of its authority to implement a reverse stock split of its common stock at a ratio of up to 1-for-50,000 shares. The company's Board of Directors will decide on the timing and specific ratio. The move aims to simplify the company's capitalization and reduce the number of record holders to stay below the SEC threshold for public reporting, which involves significant costs. The authorization, originally expiring on July 8, 2025, has been extended to July 8, 2027.
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