Jasper Therapeutics Sets 1-for-30 Reverse Stock Split, Effective Nov. 6

Jasper Therapeutics, Inc. (Nasdaq: JSPR) will carry out a 1-for-30 reverse stock split effective 12:01 a.m. Eastern Time on Friday, Nov. 6, the company said in an 8-K filed Wednesday, Nov. 4.

Every 30 shares of common stock will be combined into one share, with no change in the $0.0001 par value. The shares are expected to begin trading on a split-adjusted basis at the market open on Nov. 6. The ticker stays JSPR, and the new CUSIP number is 471871301.

Share count and fractional shares

Shares outstanding will fall from about 33.3 million to about 1.1 million, subject to adjustment for fractional shares. The company will not issue fractional shares. Holders who would otherwise receive one will get cash equal to that fraction multiplied by the closing price on Nov. 5, the trading day before the split takes effect.

The authorized share count stays at 490,000,000, so the number of authorized but unissued shares rises relative to shares outstanding. Warrants, stock options and shares available under equity plans will be adjusted for the ratio.

Approval and timing

Stockholders approved the split at a special meeting on Sept. 30, allowing the board to pick a ratio from 1-for-15 to 1-for-35. The board set the ratio at 1-for-30 on Oct. 23, and the certificate of amendment was filed Nov. 2.

Holders in book-entry form or held through a bank or broker do not need to take any action, and their accounts will be adjusted automatically. Registered holders will receive information from Continental Stock Transfer & Trust Company. The company's press release did not state a reason beyond the split itself and its Nasdaq listing requirements.