APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Other Events
Item 8.01 Other Events
As previously announced, Aptevo Therapeutics Inc. (the “Company”) effected a 1-for-14 reverse stock split of the Company’s outstanding common stock that was effective on March 26, 2020.
As a result of the reverse stock split, proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all then outstanding stock options, restricted stock units and warrants, which resulted in a proportional decrease in the number of shares of the Company’s common stock reserved for issuance upon exercise or vesting of such stock options, restricted stock units and warrants, and, in the case of stock options and warrants, a proportional increase in the exercise price of all such stock options and warrants.
In particular, each of the Company’s outstanding warrants (CUSIP# 03835L116), in accordance with their terms, will now be exercisable with an exercise price of $18.20 (equal to original exercise price of $1.30 per share times 14) and 0.07142857 shares of common stock for each one share of common stock originally issuable under such warrant (equal to one divided by 14). The outstanding warrants are now exercisable for a total of 1,417,857 shares of common stock. On April 13, 2020, the Depository Trust Company (DTC) provided notification of such changes to the warrant holders.
About APTEVO THERAPEUTICS INC. (NASDAQ:APVO)
Aptevo Therapeutics Inc. is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform. The Company has approximately four products in the areas of hematology and infectious diseases, as well as various investigational-stage product candidates in immuno-oncology. The Company’s investigational-stage product candidates include MOR209/ES414, ES210, ES425, Otlertuzumab and 5E3. Its technology can produce monospecific and multispecific immunotherapeutic proteins that bind to various targets. The Company’s marketed products are WinRho SDF (Rho(D) Immune Globulin Intravenous (Human)), HepaGam B (Hepatitis B Immune Globulin Intravenous (Human)), VARIZIG (Varicella Zoster Immune Globulin (Human)), and IXINITY (coagulation factor IX (recombinant)).