By Adam L. Cataldo
Shares of Longevity Health Holdings rallied following a ruling that allows the company to maintain its listing on the Nasdaq stock exchange ahead of its proposed merger with 20/20 BioLabs.
The decision is dependent on meeting Nasdaq's initial listing rules once the deal is completed, Longevity said Wednesday.
The stock climbed 66% to $5.08 in postmarket trading after ending the regular session down 6.2% at $3.06. Shares fell to a 52-week low of $2.63 on May 14, and are down 96% in the past year.
Longevity and 20/20 executed a merger agreement last month in a deal that will lead to shareholders of 20/20 owning about 50.1% of the combined company. Once the merger is completed, Longevity said it plans to effect a 1-for-30 reverse stock split to address Nasdaq's listing requirements. The merger is expected to be completed on or before Sept. 2.
The Nasdaq Hearings Panel's decision was based on a review of both companies' financial statements and pro forma projections, Longevity said.
Pittsburgh-based Longevity describes itself as focused on extending human longevity and healthy aging through innovative products in regenerative bio-aesthetics, diagnostics and nutrition. 20/20 Biolabs develops and commercializes innovative laboratory tests for the early detection and the proactive management of chronic disease risk.
Write to Adam Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
May 21, 2025 19:23 ET (23:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。