Aptorum (APM) said Thursday it will implement a 1-for-10 reverse stock split of its issued and outstanding class A and class B ordinary shares in connection with its merger with DiamiR Biosciences, which is expected to close on or about Monday.
The company will also redomicile to Delaware and change its name to Niki BioSolutions in connection with the merger. Aptorum said it expects its common stock to begin trading on the Nasdaq Capital Market under the ticker "NIKI" on Monday on a split-adjusted basis.
Shares of Aptorum were down nearly 22% in Thursday trading.
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