HOOKIPA Pharma to Implement 1-for-10 Reverse Stock Split Effective July 9, 2024

HOOKIPA Pharma Inc. (NASDAQ:HOOK, ", HOOKIPA", ))))), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, today announced that a 1-for-10 reverse stock split of its outstanding shares of common stock will be effective as of 5:00 p.m. Eastern Time on July 9, 2024.
 

The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on July 10, 2024. Following the reverse stock split, the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "HOOK" with the new CUSIP number 43906K209. The reverse stock split is part of the Company's plan to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

At the effective time of the reverse split, every 10 issued and outstanding shares of the Company's common stock will automatically be combined into one issued and outstanding share of the Company's common stock without any change in the par value per share. Fractional shares will not be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will be entitled to receive a cash payment. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's relative interest in the Company's equity securities, except for any adjustments for fractional shares. The reverse stock split will proportionately reduce the number of authorized shares of the Company's common stock from 400,000,000 shares to 40,000,000 shares, without any change in the par value per share. Proportionate adjustments will be made to the conversion ratio for the Company's Class A Common Stock and the conversion prices of the Company's Series A Convertible Preferred Stock, Series A-1 Convertible Preferred Stock and Series A-2 Convertible Preferred Stock. In addition, proportionate adjustments will be made to the number of shares underlying, and the exercise or conversion prices of, the Company's outstanding stock options, and to the number of shares of common stock issuable under the Company's equity incentive plans.

The reverse stock split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 96.6 million to approximately 9.7 million.