NORCROSS, Ga.–(BUSINESS WIRE)–Guided Therapeutics, Inc. (OTCQB: GTHP) today announced a one-for-one
hundred (1:100) reverse split of its issued and outstanding common
stock. The reverse stock split will be effective when the market opens
on Wednesday, February 24, 2016 and Guided’s common stock will begin
trading on a split-adjusted basis at that time, with a “D” temporarily
appended to the end of its ticker symbol to signify the split.
The reverse stock split will affect all issued and outstanding shares of
Guided’s common stock, as well as shares of common stock underlying
stock options, warrants and convertible preferred stock outstanding
immediately prior to the reverse stock split. Guided’s stockholders
granted authority to the Board of Directors to effect the reverse stock
split at a special meeting of stockholders held on November 11, 2015.
Upon the reverse stock split, every 100 shares of issued and outstanding
common stock will automatically be converted into 1 share of common
stock. Fractional shares will be rounded up to a full share. The reverse
stock split will not impact any stockholder’s percentage ownership or
voting power, except for minimal effects resulting from the treatment of
fractional shares. Following the reverse stock split, the number of
outstanding shares of common stock will be reduced by a factor of 100.
There will be no change in the number of authorized shares of common
stock that Guided has authority to issue.
Computershare Inc. will act as exchange agent for the reverse stock
split. Stockholders holding their shares in book-entry form or through a
bank, broker or other nominee do not need to take any action in
connection with the reverse stock split, and will see the impact of the
reverse stock split automatically reflected in their accounts following
the effective date. Beneficial holders may contact their bank, broker or
nominee for more information. For those stockholders holding physical
stock certificates, Computershare will send instructions for exchanging
those certificates for shares held in book-entry form or for new
certificates, in either case representing the post-split number of
shares. Computershare can be reached at (800) 962-4284.
About Guided Therapeutics
Guided Therapeutics, Inc. (OTCQB: GTHP) is the maker of a rapid and
painless testing platform based on its patented biophotonic technology
that utilizes light for the early detection of disease at the cellular
level. The Company’s first product is the LuViva® Advanced Cervical
Scan, a non-invasive device used to detect cervical disease instantly
and at the point of care. In a multi-center clinical trial, with women
at risk for cervical disease, the technology was able to detect cervical
cancer up to two years earlier than conventional modalities, according
to published reports. For more information, visit: www.guidedinc.com.
The Guided Therapeutics LuViva® Advanced Cervical Scan is an
investigational device and is limited by federal law to investigational
use in the U.S. LuViva, the wave logo and “Early detection, better
outcomes” are registered trademarks owned by Guided Therapeutics, Inc.
Forward-Looking Statements Disclaimer: This press release contains
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. These statements are based on
management’s current expectations and actual results may differ
materially as a result of various risks and uncertainties. Other factors
that could cause actual results to differ from those reflected in the
forward-looking statements are set forth in the Company’s prior press
releases and periodic public filings with the Securities and Exchange
Commission, which are available via Guided’s website at www.guidedinc.com.
The forward-looking statements in this press release are made as of the
date of this press release and Guided does not undertake to revise or
update these forward-looking statements, except to the extent that it is
required to do so under applicable law.
Investor and Media Relations Contact:
Bill Wells, 770-242-8723