SAN MATEO, Calif., Jan. 23, 2025 (GLOBE NEWSWIRE) — Vincerx Pharma, Inc. today announced… (Nasdaq: VINC), a biopharmaceutical company that aspires to address the unmet medical needs of patients with cancer through paradigm-shifting therapies, announced that its Board of Directors has approved a 1-for-20 reverse stock split for the issued shares of common stock, which will be effective January November 27, 2025 at 4:01 PM ET. Vincerx common stock will continue to trade on the Nasdaq Stock Market under the current symbol (VINC) and will begin trading on a split-adjusted basis when the market opens on January 28, 2025, with a new CUSIP number. The reverse stock split was approved by Vincerx shareholders at a special shareholder meeting held on January 16, 2025.

Effective at the effective time of the reverse stock split, each twenty (20) issued shares of Vincerx common stock will be combined, reclassified and converted into one (1) issued share of Vincerx common stock. This will reduce the number of shares issued from approximately 44.8 million shares to approximately 2.2 million shares, subject to adjustment for share fractions. No fractional shares will be issued as a result of the reverse stock split. Holders who are entitled to receive a fractional share of common stock (and with respect to holders who have certificated shares, upon delivery of certificates representing such shares to the exchange agent) will be entitled to a cash payment in lieu at a rate equal to the stockholders’ proportionate share of the proceeds, after deducting certain Costs associated with this sale, from the aggregation and sale of fractional shares by our transfer agent. Proportionate adjustments will be made to the number of shares of common stock underlying Vincerx’s outstanding stock awards, warrants, the number of shares issuable under stock incentive plans, stock option plans, and other outstanding agreements, as well as the exercise or conversion price. As appropriate. A reverse stock split will not affect the par value of common stock.

Continental Stock Transfer & Trust Company is acting as the cashing agent for the reverse stock split. The positions of registered shareholders who hold previously split shares of Vincerx common stock in book entry form or through a broker, bank, trust or other nominee will be adjusted to reflect the reverse stock split, subject to such broker’s own operations, and no action will be required in connection with the split. Reverse stock. Stockholders who hold Vincerx common stock in certificate form will receive a letter of transmittal from Continental Stock Transfer & Trust Company with instructions after the effective date.

Additional information about the reverse stock split can be found in Vincerx’s definitive proxy statement filed with the Securities and Exchange Commission on December 10, 2024.

About Fenserix Pharma Inc

Vincerx Pharma, Inc. is a clinical-stage biopharmaceutical company committed to developing differentiated, novel therapies to address the unmet medical needs of patients with cancer. Vincerx’s pipeline consists of their next generation ADC, the VIP943, which is currently in Phase 1; a small molecule drug compound, VIP236, which has completed a phase I study; the CDK9 inhibitor, enitociclib, which has completed a phase I monotherapy study; Preclinical ADC, VIP924; and VersAptx™, a versatile next-generation bioconjugation platform.

Vincerx is headquartered in San Mateo, California, and has a research facility in Monheim, Germany.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to Vincerx Pharma, Inc. (the company). Forward-looking statements are predictions, projections and other statements about future events based on current expectations and assumptions that are not historical facts and, as a result, are subject to risks and uncertainties. Forward-looking statements include, but are not limited to: the Company’s execution and effectiveness of the reverse stock split, including the timing thereof; and the Company’s beliefs regarding the potential impact of a reverse stock split, including its potential impact on the Company’s stock price and listing on the Nasdaq Stock Exchange. Risks and uncertainties that could cause actual results to differ include: factors generally affecting the business, operations and financial condition of the Company; The actual effect of any reverse stock split on the Company’s stock price; and the factors, risks and uncertainties described in the Risk Factors section of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2024 filed with the Securities and Exchange Commission (SEC), as well as the Company’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and except as required by law, the Company undertakes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new or future information. events, or otherwise.

Vincerx, the Vincerx logo, and VersAptx are trademarks of Vincerx.

Contacts:

Gabriela Giralla
Fenserex Pharma Company
gabriela.jairala@vincerx.com

Tutiana Simin
Home Conjure Comms
totyana.simien@inizioevoc.com

Source: Vincerx Pharma, Inc.