Attached files
| file | filename |
|---|---|
| 8-K - CRYOPORT, INC. - Cryoport, Inc. | cryoport_8k-020310.htm |
| EX-3.4.3 - CERTIFICATE OF AMENDMENT TO AMENDED AND RESTATED ARTICLES OF INCORPORATION - Cryoport, Inc. | cryoport_8k-ex343.htm |
Exhibit 99.1
CryoPort Announces Implementation of 1:10 Reverse Stock Split to Take Effect February 5, 2010 and Appointment of New Transfer Agent
Lake
Forest, Calif. (February 4, 2010) CryoPort, Inc. (OTCBB: CYRX), today announced
that a previously approved reverse stock split of its outstanding common stock
will take effect at the start of trading on the OTC Bulletin Board on Friday,
February 5, 2010 on a 1-for-10 split-adjusted basis. CryoPort’s shares will
continue to trade on a split-adjusted basis under the temporary ticker symbol
“CYRXD” for a period of 20 trading days to indicate the reverse stock split has
occurred. CryoPort’s symbol will revert back to its original symbol
“CYRX” on March 8, 2010. In connection with the reverse slit
CryoPort’s common stock has been assigned a new CUSIP number 229050
208.
The
primary objective of the reverse stock split is to gain compliance with NASDAQ’s
minimum listing requirement in connection with the Company’s planned stock
offering in February and application to list its common stock on the NASDAQ
Capital Market.
Under the
terms of the reverse split, stockholders holding 10 shares or more of CryoPort
common stock at the close of business on February 4, 2010 will receive one new
CryoPort share for every 10 shares held. Stockholders who would otherwise have a
fractional share as a result of the reverse stock split will receive cash
consideration in lieu of such fractional share. The reverse split
will reduce the number of shares of outstanding common stock from approximately
50.5 million, based on the number of shares outstanding as of January 27, 2010,
to approximately 5.05 million. It also affects shares of common stock underlying
stock options, warrants and convertible debt that are outstanding immediately
prior to the effective date of the reverse stock split.
CryoPort
also announced that it has appointed Continental Stock Transfer & Trust
Company to serve as its transfer agent. Stockholders will be sent
instructions for exchanging their existing stock certificates for new stock
certificates, and for receiving cash compensation in lieu of fractional
shares.
About
CryoPort, Inc.
CryoPort
(www.cryoport.com) has developed a leading edge, proprietary, technology driven
packaging and transport and packaging system focused on providing a solution
for the
frozen shipping market in the growing global life science industry. The products
developed by CryoPort are essential components of the infrastructure required
for the testing, research and end user delivery of temperature-sensitive
medicines and biomaterials in an increasingly complex logistical
environment.
"SAFE
HARBOR"
This
press release contains forward-looking statements. The words "estimate,"
"possible" and "seeking" and similar expressions identify forward-looking
statements, which speak only as to the date the statement was made. The company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether because of new information, future events, or otherwise.
Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted, or quantified. Future events and actual
results could differ materially from those set forth in, contemplated by, or
underlying the forward-looking statements. The risks and uncertainties to which
forward-looking statements are subject include, but are not limited to, the
effect of government regulation, competition and other material
risks.
Contact:
Stuart Fine
Carpe DM,
Inc.
908-469-1788