Nektar Therapeutics filed SEC Form 8-K: Other Events
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Item 8.01. Other Events.
As previously disclosed, at the Annual Meeting of Stockholders of Nektar Therapeutics (the “Company”) held on May 23, 2025, the Company’s stockholders approved a proposal to amend the Company’s Certificate of Incorporation to effect, at the discretion of the Board of Directors of the Company (the “Board”) on or prior to May 23, 2026, a reverse stock split of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a stock split ratio between 1-for-2 and 1-for-40, with the final ratio to be determined by the Board in its sole discretion.
On May 23, 2025, the Board approved a one-for-fifteen reverse stock split (the “Reverse Stock Split”) of the Company’s Common Stock.
The Reverse Stock Split is expected to become effective on June 8, 2025, at 11:59 p.m. Eastern Time (the “Effective Time”), with shares of Common Stock to begin trading on a split-adjusted basis at market open on June 9, 2025 under the existing symbol “NKTR” and new CUSIP number 640268306. In connection with the Reverse Stock Split, every fifteen shares of Common Stock issued and outstanding as of immediately prior to the Effective Time will be automatically converted into one share of its respective class of Common Stock. No fractional shares of Common Stock will be issued as a result of the Reverse Stock Split. Instead, any fractional shares resulting from the Reverse Stock Split will be rounded up at the participant level with The Depository Trust Company, if such shares of Common Stock are held directly or rounded down to the nearest whole share of Common Stock, if such shares are subject to an award granted under the 2017 Amended and Restated Performance Incentive Plan.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements which can be identified by words such as: “may,” “will,” “expect,” “continue” and similar references to future periods. All statements, other than statements of historical fact, may be forward-looking statements. They are based on current expectations and projections about future events and are therefore subject to risks and uncertainties, which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Therefore, you should not rely on any of these forward-looking statements. The Company does not assume any obligation to update the forward-looking information contained in this Current Report on Form 8-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEKTAR THERAPEUTICS | ||
| Date: June 4, 2025 | By: | /s/ Mark A. Wilson |
| Mark A. Wilson | ||
| Chief Legal Officer and Secretary | ||
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