Medical Technology Breaking News: Aethlon Medical (OTCBB:
AEMD) Announces Reverse Stock Split and Nasdaq Listing Submission
SAN DIEGO - April 8, 2015 (Investorideas.com newswire)
Aethlon Medical, Inc. (OTCBB:AEMD),
a pioneer in developing targeted therapeutic devices to address infectious
diseases and cancer, announced today that it will implement a 1-for-50 reverse
split of its common stock. The implementation of the reverse stock split is
subject to approval by the Financial Industry Regulatory Authority (FINRA).
Upon approval by FINRA, the Company's common stock will trade on a
split-adjusted basis under the temporary symbol "AEMDD," with the
"D" appended to signify that the reverse stock split has occurred.
The trading symbol will revert to "AEMD" after approximately 20
trading days. We currently anticipate that FINRA will approve the reverse stock
split on April 10, 2015, however there can be no assurance that the
effectiveness of the reverse stock split will occur on that date.
The
Company also announced that it has submitted an initial listing application
with the Nasdaq Stock Market to have its common stock approved for listing on
the Nasdaq Capital Market. The Company's Board of Directors approved the stock
split in part to support the Nasdaq Capital Market listing application. At
present, the Company does not meet all of the initial listing requirements of
the Nasdaq Capital Market and therefore the Company cannot assure that the
listing will be approved.
The
reverse split will reduce the number of shares of the Company's common stock
outstanding from approximately 323 million to approximately 6.7 million.
Proportional adjustments will be made to the Company's authorized shares, and
to the terms and exercise price of outstanding options and warrants, as well as
the conversion terms of the Company's outstanding convertible notes. Any
fractional shares resulting from the reverse stock split will be rounded up to
the next whole share.
INFORMATION FOR
STOCKHOLDERS
Upon
the effectiveness of the reverse stock split, each fifty shares of issued and
outstanding common stock will be converted into one share of the Company's
common stock. Stockholders who have existing stock certificates will receive
written instructions by mail from the Company's transfer agent, Computershare.
Stockholders who hold their shares in brokerage accounts or "street
name" are not required to take any action to effect the exchange of their
shares. Such stockholders will be contacted by their brokers with instructions.
About Aethlon Medical, Inc.
Aethlon
Medical creates medical devices that target unmet therapeutic needs in
infectious disease and cancer. The company's lead product is the Aethlon
Hemopurifier®, a first-in-class device that selectively targets the rapid elimination
of circulating viruses and tumor-secreted exosomes that promote cancer
progression. Exosome Sciences, Inc. is a majority owned subsidiary that is
advancing exosome-based products to diagnose and monitor cancer, infectious
disease and neurological disorders. Additional information can be found on-line
at http://www.aethlonmedical.com/ and connect with
the Company on Twitter, LinkedIn, Facebook and Google+.
Certain
statements herein may be forward-looking and involve risks and uncertainties.
Such forward-looking statements involve assumptions, known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of Aethlon Medical, Inc. to be materially different from any
future results, performance, or achievements expressed or implied by the
forward-looking statements. Such potential risks and uncertainties include,
without limitation, that Exosome Sciences, Inc. will not be able to
commercialize its future products, including any that can be described as a
liquid biopsy, that the FDA will not approve the initiation of the Company's
clinical programs or provide market clearance of the company's products, future
human studies whether revenue or non-revenue generating of the Aethlon ADAPT™
system or the Aethlon Hemopurifier® as an adjunct therapy to improve patient
responsiveness to established cancer or hepatitis C therapies or as a
standalone cancer or hepatitis C therapy or as a broad spectrum defense against
viral pathogens, including Ebola, the Company's ability to raise capital when
needed, the Company's ability to complete the development of its planned
products, the Company's ability to manufacture its products either internally
or through outside companies and provide its services, the impact of government
regulations, patent protection on the Company's proprietary technology, the
ability of the Company to meet the milestones contemplated in the DARPA contract,
product liability exposure, uncertainty of market acceptance, competition,
technological change, and other risk factors. In such instances, actual results
could differ materially as a result of a variety of factors, including the
risks associated with the effect of changing economic conditions and other risk
factors detailed in the Company's Securities and Exchange Commission filings.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
Contacts:
David
Zazoff
MDM Worldwide Solutions
646-403-3554
MDM Worldwide Solutions
646-403-3554
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