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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。