April 9, 2018 / 12:28 PM / 3 months ago

BRIEF-Invivo Therapeutics Announces Reverse Stock Split

Reuters Staff

1 Min Read

April 9 (Reuters) - InVivo Therapeutics Holdings Corp :

* 25 REVERSE STOCK SPLIT OF ITS COMMON STOCK

* ANTICIPATES REVERSE STOCK SPLIT WILL BECOME EFFECTIVE AT 5:00 P.M. EASTERN TIME ON APRIL 16, 2018

* RELATED SAVINGS OF ABOUT $3 MILLION THROUGH 2019

* PROJECTS AVERAGE CASH BURN OVER LAST THREE QUARTERS OF 2018 TO BE APPROXIMATELY $1 MILLION PER MONTH

* IN CONNECTION WITH REVERSE STOCK SPLIT, AUTHORIZED SHARES WILL BE REDUCED FROM 100 MILLION SHARES TO FOUR MILLION SHARES Source text for Eikon: Further company coverage:

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