Key Highlights

  • Jasper announced a 1-for-30 reverse stock split.
  • The split takes effect at the start of Friday, November 6.
  • Shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market.
  • Stockholders approved a ratio range of 1-for-15 to 1-for-35 on September 30.
  • Fractional shares will be paid out in cash.

Reverse Split Takes Effect Friday

Jasper (NASDAQ:JSPR), a clinical-stage biotechnology company developing therapies for immune-mediated diseases, announced a 1-for-30 reverse stock split. The split takes effect at the start of Friday, November 6, and shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market that morning.

Every 30 shares outstanding will be combined into one share, and the Par Value stays at $0.0001.

How the Split Will Work

No fractional shares will be issued. Holders who would have received a fraction will be paid in cash, based on the closing price. The split also applies to shares issuable on exercise of outstanding warrants and stock options, with exercise prices adjusted in proportion, and the number of shares available under Equity incentive plans will shrink to match.

Approvals and Timing

Stockholders approved the split at a special meeting on September 30, giving the board discretion to pick a ratio from 1-for-15 to 1-for-35. The board chose 1-for-30 on October 23.

What a Reverse Split Does and Does Not Change

A reverse split raises the per-share price and lowers the share count without changing a company’s total value or its business. Small-cap biotechs often use them to meet exchange listing requirements, and shares of penny stocks can be volatile around the effective date. Jasper’s pipeline progress and future financing needs remain the main drivers for the stock.