Channel Therapeutics Corporation announced a 10-for-one reverse stock split of its common stock, effective before market open on July 1, 2025. The move aims to increase the market price per share and meet NYSE American listing requirements amid its merger with Pelthos Therapeutics. Post-split, the company's common stock will trade under the name "Pelthos Therapeutics Inc." starting July 2, 2025. The reverse split will reduce the number of outstanding shares from approximately 6,485,007 to 648,501.
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