INVIVO THERAPEUTICS HOLDINGS CORP. (NASDAQ:NVIV) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03. Material Modification to Rights of Security Holders.
On February 11, 2020, InVivo Therapeutics Holdings Corp. (the “Company”) effected a reverse stock split of the Company’s common stock, par value $0.00001 per share (the “Common Stock”), at a ratio of 1-for-30 (the “Reverse Split”). As a result of the Reverse Split, every 30 shares of the issued and outstanding Common Stock were automatically converted into one newly issued and outstanding share of Common Stock, without any change in the par value per share. Any fractional shares resulting from the Reverse Split have been rounded up to the nearest whole share. In connection with the Reverse Split, the Company correspondingly reduced the number of shares of authorized shares of Common Stock from 500,000,000 to 16,666,667.
As previously disclosed, the Board of Directors of the Company approved the Reverse Split on February 3, 2020. On February 10, 2020, the Company filed a Certificate of Change to effect the Reverse Split to Nevada Revised Statutes Sections 78.207 and 78.209 with the Secretary of State of the State of Nevada. Under Nevada law, the Company’s Articles of Incorporation were deemed amended at the effective time of the Reverse Split, 5:00 p.m. Eastern Time on February 11, 2020.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
The information set forth in Item 3.03 of this Current Report on Form 8-K is incorporated by reference into this Item 5.03. A copy of the Certificate of Change is filed as Exhibit 3.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 3.1 | Certificate of Change to NRS 78.209, filed with the Nevada Secretary of State, dated February 10, 2020. |
INVIVO THERAPEUTICS HOLDINGS CORP. Exhibit
EX-3.1 2 tm207146d1_ex3-1.htm EXHIBIT 3.1 Exhibit 3.1 Filed in the Office of Business Number . J1. C7829-2003 K.f.A. F il in g N um be-r ,…
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About INVIVO THERAPEUTICS HOLDINGS CORP. (NASDAQ:NVIV)
InVivo Therapeutics Holdings Corp., formerly Design Source, Inc., is a research and clinical-stage biomaterials and biotechnology company. The Company is engaged in developing and commercializing biopolymer-scaffolding devices for the treatment of spinal cord injuries (SCI). The Company’s approach to treating acute SCIs is based on its investigational Neuro Spinal Scaffold implant, an investigational bioresorbable polymer scaffold that is designed for implantation at the site of injury within a spinal cord contusion and is intended to treat acute spinal cord injury. The Neuro-Spinal Scaffold consists of biocompatible and bioresorbable polymers, which include poly lactic-co-glycolic acid (PLGA) and Poly-L-Lysine (PLL). The Company is also evaluating other technologies and therapeutics that may be complementary to its development of the Neuro-Spinal Scaffold implant. The Company has a clinical development program for acute SCI and a preclinical development program for chronic SCI.
