TARRYTOWN, N.Y. and HERZLIYA-PITUACH, Israel, Aug. 20, 2013 /PRNewswire/ -- EpiCept Corporation (Nasdaq OMX Stockholm Exchange and OTCQX: EPCT) (the "Company") and Immune Pharmaceuticals Ltd. announced today that, in accordance with EpiCept's recent stockholder approval and in preparation for the closing of the merger between the two companies, the 1-for-40 reverse stock split of EpiCept's common stock and the change in the Company's name to "Immune Pharmaceuticals Inc." will be in effect as follows:
Nasdaq OMX Stockholm Exchange
The last day of trading in the Company's shares on the Nasdaq OMX Stockholm Exchange before the reverse split will be Tuesday, August 20, 2013. The first day of trading in the Company's post-split shares on a 1-for-40 split-adjusted basis will be on Wednesday, August 21, 2013. The record date with Euroclear Sweden AB for the reverse split will be Friday, August 23, 2013 and the new number of shares is expected to be credited to each shareholder's securities account on Monday, August 26, 2013. The Company's post-split shares will have the new ISIN US45254C1018. A notice confirming the new number of shares on the securities account will be sent out shortly thereafter.
Also, beginning on the first day of trading in the Company's post-split shares, the Company's name change to "Immune Pharmaceuticals Inc." and a new short name "IMNP" will be in effect. The Company's orderbook ID 32838 will remain unchanged.
OTCQX® U.S. Trading Platform
The reverse stock split will be in effect at the start of trading on Wednesday, August 21, 2013 on a 1-for-40 split-adjusted basis. Beginning on that day, the Company's common stock will trade under the symbol EPCTD for 20 business days and will, after such 20-business day period, change to its new trading symbol of "IMNP." The stock will also have a new CUSIP number, 4525
|SOURCE EpiCept Corporation|
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