New York, New York–(Newsfile Corp. – May 1, 2025) – Psyence Biomedical Ltd. (NASDAQ: PBM) (“Psyence BioMed” or the “Company”) today announced the effective date of its 1-for-7.97 share consolidation (reverse stock split) of the Company’s issued and outstanding common shares. At a Special Meeting of Stockholders held on April 16, 2025, shareholders approved a share consolidation at a ratio of up to 1-for-50. Following this approval, the Company’s Board of Directors authorized a 1-for-7.97 consolidation ratio, which will be implemented as the final share structure.
The Company’s common shares are expected to begin trading on a post-consolidated basis at the opening of the market on Monday, May 5, 2025. Following the consolidation, the Company’s common shares will continue to trade under the symbol “PBM” on the Nasdaq Capital Market, with a new CUSIP number 74449F308.
The consolidation is part of the Company’s plan to regain compliance with the minimum bid price requirement of Nasdaq Listing Rule 5450(a)(1) (the “Nasdaq Rule 5450”) for continued listing on The Nasdaq Capital Market.
At the effective time of the consolidation, every 7.97 issued and outstanding shares of the Company will automatically be combined into one issued and outstanding common share. The number of shares and the exercise price of the Company’s outstanding warrants and other equity instruments will also be adjusted proportionately in accordance with their respective terms. As of May 1, 2025, the Company had 4,648,610 common shares issued and outstanding. As a result of the consolidation, the Company will have 583,263 common shares issued and outstanding.
No fractional shares will be issued in connection with the consolidation. Any fractional share resulting from the consolidation will be rounded down to the nearest whole share if the fraction is less than one-half of a share and rounded up to the nearest whole share if the fraction is at least one-half of a share. The consolidation affects all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company, except for minor adjustments resulting from the treatment of fractional shares. The share consolidation occurs at the registered shareholder level. Shareholders who hold their common shares through brokers, banks, or other nominees (i.e., in ‘street name’) are considered beneficial holders and may experience a delay in the reflection of the consolidation in their accounts, depending on the procedures of their broker, bank, or nominee.
Continental Stock Transfer & Trust Company is acting as the exchange agent and transfer agent for the consolidation. Shareholders holding their shares in book-entry form or through brokerage accounts are not required to take any action. Beneficial holders are encouraged to contact their broker, bank, or custodian with any questions regarding the effect of the share consolidation.
Psyence BioMed aims to be one of the few multi-asset, vertically integrated biopharmaceutical companies specializing in psychedelic-based therapeutics. It is the first life sciences biotechnology company focused on developing nature-derived (non-synthetic) psilocybin-based psychedelic medicine to be listed on Nasdaq. Psyence is dedicated to addressing unmet mental health needs, particularly in palliative care. The name ‘Psyence’ merges ‘psychedelics’ and ‘science,’ reflecting the company’s commitment to an evidence-based approach in developing safe, effective, and FDA-approved nature-derived psychedelic treatments for a broad range of mental health disorders.
Learn more at www.psyencebiomed.com and on LinkedIn.