Diffusion Pharmaceuticals Stockholders Approve Merger With EIP Pharma; ~71% Of Stockholders Voted In Favor Of The Transaction; Announces 1-For-1.5 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Diffusion Pharmaceuticals Inc. (NASDAQ:DFFN) announced that its stockholders have approved all proposals, including the merger with EIP Pharma Inc. and a 1-for-1.5 reverse stock split. The merger is expected to close on August 16, 2023, and the combined company's common stock is expected to begin trading on a split-adjusted basis under the new symbol 'CRVO' on August 17, 2023.
August 15, 2023 | 8:13 pm
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Diffusion Pharmaceuticals' stockholders approved the merger with EIP Pharma and a 1-for-1.5 reverse stock split. The combined company's stock will trade under the symbol 'CRVO' from August 17, 2023.
The approval of the merger and the reverse stock split by Diffusion Pharmaceuticals' stockholders is a significant event that directly impacts the company. The combined company's stock will trade under a new symbol, which could potentially attract new investors and increase the stock's liquidity. Therefore, the short-term impact on the stock price is likely to be positive.
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