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The Board and Management of TransCode Therapeutics (NASDAQ:RNAZ) today issued the following open letter to shareholders of the Company:
The reason for requesting the authority to do the reverse split is that, as a last resort, we can inform the Panel that shareholders have authorized a reverse split. There is also no assurance that the authorization (alone or in combination with other reasons we will provide the Panel) will result in our stock not being delisted, but the company and its advisors believe this is our best chance.
We believe having our stock continue to be listed on The Nasdaq Capital Market will be valuable in a number of ways in the future.
We hope to not have to effect a reverse split, but we also believe that our shareholders are best served by doing everything we can to continue to be Nasdaq-listed.
Posted In: RNAZ
