First Wave BioPharma distributes series F preferred stock to common shareholders

Chicago, Nov. 28 – First Wave BioPharma, Inc. announced it was distributing series F preferred stock as a dividend to holders of its common stock, according to a press release.

For each outstanding share, holders will receive a dividend of 0.001 of a share of newly designated series F preferred stock, par value $0.0001 per share.

The record date is 5 p.m. ET on Dec. 5.

The preferred stock will vote with outstanding shares of the company’s common stock.

Each outstanding share of series F preferred stock will have 1 million votes per share, or 1,000 votes per 0.001 of a share of the preferred stock.

All shares not represented when the company votes on a reverse stock split will be automatically redeemed by the company.

Any outstanding preferred stock will be redeemed upon the effectiveness of the reverse stock split.

First Wave BioPharma is a clinical stage biopharmaceutical company based in Boca Raton, Fla.

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