Sequenom Implements Reverse Stock Split
02 Juni 2006 - 7:51PM
PR Newswire (US)
SAN DIEGO, June 2 /PRNewswire-FirstCall/ -- Sequenom, Inc.
(NASDAQ:SQNMD) today announced that it has effected a 1-for-3
reverse stock split of all outstanding shares of its common stock.
The reverse stock split was effective with respect to shareholders
of record at 5:01 p.m., Eastern time, on June 1, 2006. Under the
split, each three shares of common stock outstanding are
automatically combined and converted into one share of common
stock. No action is required on the part of stockholders.
Fractional shares will not be issued and cash payments shall be
made with respect to such fractional shares. For the next 20
trading days, Sequenom's Nasdaq ticker symbol will be SQNMD. Upon
expiration of the 20 trading day period, the ticker symbol will
return to SQNM. Sequenom stockholders will be receiving an
explanatory letter from the Company. This reverse stock split is
part of the Company's plan to regain compliance with Nasdaq
National Market listing requirements. The Company's continued
listing on the Nasdaq National Market is contingent upon the Nasdaq
Listing Qualifications Panel granting the Company's request for
continued listing. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040415/SQNMLOGO ) About
Sequenom Sequenom is committed to providing the best genetic
analysis products that translate genomic science into superior
solutions for non-invasive prenatal testing, biomedical research,
molecular medicine and agricultural applications. The Company's
proprietary MassARRAY system is a high-performance DNA analysis
platform that efficiently and precisely measures the amount of
genetic target material and variations therein. The system is able
to deliver reliable and specific data from complex biological
samples and from genetic target material that is only available in
trace amounts. The Company has exclusively licensed intellectual
property rights for the development and commercialization of
non-invasive prenatal genetic tests for use with the MassARRAY
system and other platforms. Sequenom(R) and MassARRAY(R) are
trademarks of Sequenom, Inc. Except for the historical information
contained herein, the matters set forth in this press release
regarding the Company's plan to regain compliance with Nasdaq
National Market Listing requirements and the 20 day trading period
for the new ticker symbol, are forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including the risks and uncertainties associated
with the Company's share price, the Company's stockholders' equity,
and review, if any, by Nasdaq Listing Qualifications staff, as well
as other risks described from time to time in Sequenom's SEC
filings, including Sequenom's most recent Annual Report on Form
10-K, most recent Quarterly Report on Form 10-Q, and its subsequent
filings. These forward-looking statements are based on current
information that is likely to change. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and Sequenom undertakes no obligation to
revise or update any forward-looking statement to reflect events or
circumstances after the issuance of this press release.
http://www.newscom.com/cgi-bin/prnh/20040415/SQNMLOGO
http://photoarchive.ap.org/ DATASOURCE: Sequenom, Inc. CONTACT:
Clarke Neumann, Investor Relations of Sequenom, Inc.,
+1-858-202-9206,
Copyright