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Biostar Pharma To Effect Reverse Stock Split - Quick Facts

Biostar Pharmaceuticals Inc. (BSPM) announced that its Board unanimously approved a reverse split of its common stock at a ratio of 1-for-3, with anticipated trading on the post-split basis on NASDAQ commencing at the open of the stock market on April 4, 2012.

Accordingly, as of the effective date of the reverse split, each 3 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. In addition, the common stock will trade under a new CUSIP number.

The company's ticker symbol will remain unchanged. As a result of the reverse stock split, the number of outstanding common shares will be reduced to approximately 9,398,892, the company said.

by RTTNews Staff Writer

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