Rallybio Announces One-for-Two Reverse Stock Split Prior to Avenzo Therapeutics Merger
Rallybio Corporation (RLYB) has announced a one-for-two reverse stock split of its issued and outstanding common stock. This corporate action is intended to take place ahead of the company's planned merger with Avenzo Therapeutics. The split will effectively reduce the total number of Rallybio’s outstanding shares from approximately 5.6 million to roughly 2.8 million. Following the announcement, RLYB shares saw a post-market decline of 2.73%, trading at $15.33.
Tickers: $RLYB
Topics: equity restructuring merger reverse stock split
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Part of the story Rallybio sets one-for-two reverse split ahead of planned merger with Avenzo (2 articles)