Applied DNA Announces 1-For-20 Reverse Stock Split

Applied DNA Sciences, Inc., a company specializing in PCR-based DNA technologies, declared a 1-for-20 reverse stock split, set to commence at 12:01 a.m. Eastern Time on April 25, 2024. This adjustment will take effect as the company's common stock, traded under the symbol "APDN" on the Nasdaq Capital Market, begins trading on a split-adjusted basis.

The reverse stock split will convert every 20 shares of existing common stock into one share, maintaining the par value of $0.001 per share. This action will reduce the total number of outstanding common shares from approximately 17.26 million to about 863,000. The company aims to adhere to the Nasdaq's minimum bid price requirement through this strategy.

No changes will occur to the number of total authorized shares. Adjustments will be made to the shares and prices concerning stock options, restricted stock units, warrants, and shares issuable under the company’s existing agreements. Fractional shares generated by the reverse stock split will be rounded up to the nearest whole share.

This resolution follows the stockholders' approval on April 15, 2024, granting the Board of Directors the authority to amend the corporate charter for the stock adjustment. Applied DNA’s transfer agent, Equiniti Trust Company, will handle procedural details for stockholders, requiring no actions for those holding shares in book-entry form.