Shares of Tevogen Bio Holdings Inc. (TVGN) fell 22% after the company announced a 50-for-1 reverse stock split of its common stock.
The split, approved by the Board of Directors, is aimed at regaining compliance with Nasdaq's $1.00 minimum bid price requirement. The split will take effect on March 6, 2026, with trading on a split-adjusted basis beginning the same day under the symbol "TVGN" and a new CUSIP numberEvery 50 shares will automatically convert into one share, with cash paid in lieu of fractional shares. The adjustment also applies to equity awards, warrants, and preferred stock conversions.
TVGN has traded between $0.17 and $1.51 over the past year. The stock is currently trading at $0.19, down 22%. The stock hit a new 52-week low of $0.17 during today's trading session.
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