GEX Management Stock Symbol Returns to GXXM Following Recent Dividend and Announces 2018 Growth Strategy

GEX Management Stock Symbol Returns to GXXM Following Recent Dividend and Announces 2018 Growth Strategy

PR Newswire

DALLAS, Jan. 12, 2018 /PRNewswire/ — GEX Management, Inc. (OTCQB: GXXM), a visionary management and professional services company, announced the implementation of its 2018 growth strategy to enlarge its corporate footprint, increase liquidity, and ultimately satisfy the requirements necessary to up-list to the NYSE American Stock Exchange. 

The initial phase of this strategy included a stock dividend. This dividend had a net effect of a 4-for-3 forward split. The process of implementing the forward split included the addition of the letter “D” to the Company’s stock symbol for approximately 20 trading days. The GEX Management stock ticker has now reverted back to its original trading symbol of “GXXM.” “I believe this forward split will increase the liquidity of our company stock, deliver quantifiable value to our shareholders, and grow our investor base. The recent acquisition of property in Northwest Arkansas is reflective of management’s commitment to growth. My aim is to continue accelerating this GEX Management trend with the aspiration of up-listing with a national exchange designed for growing companies,” stated Carl Dorvil, CEO of GEX Management.    

About GEX Management
GEX Management, Inc. Is a licensed Professional Employer Organization (PEO) and a Professional Services Company providing comprehensive back office services to clients in a variety of industries.  GEX Management services include HR, Payroll, Risk & Compliance, and Executive Consulting, and provides progressive and complete solutions for employee management and operational needs. http:www.gexmanagement.com

Information on Forward Looking Statements
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “likely,” “possibly,” “probably,” “goal,” “opportunity,” “objective,” “target,” “assume,” “outlook,” “guidance,” “predicts,” “appears,” “indicator” and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, GEX Management, Inc., in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.

 

Cision View original content:http://www.prnewswire.com/news-releases/gex-management-stock-symbol-returns-to-gxxm-following-recent-dividend-and-announces-2018-growth-strategy-300581811.html

SOURCE GEX Management

Bitcoin Investment Trust Announces Stock Split

Bitcoin Investment Trust Announces Stock Split

PR Newswire

NEW YORK, Jan. 11, 2018 /PRNewswire/ — Grayscale Investments, LLC, the sponsor (the “Sponsor”) of the Bitcoin Investment Trust (OTCQX: GBTC) (the “Trust”), announced that it has today declared a 91-for-1 stock split of the Trust’s issued and outstanding shares. With the split, shareholders of record on January 22, 2018 will receive 90 additional shares of the Trust for each share held.

The stock split will be effected on January 26, 2018 to shareholders of record as of the close of business on January 22, 2018. Following the stock split, the Trust’s shares will continue to be quoted on the OTCQX under the symbol “GBTC.”

Based on 1,916,600 shares of the Trust issued and outstanding as of the date of this press release, immediately after effectiveness of the stock split on January 26, 2018, the Trust would have 174,410,600 shares outstanding. The Trust may create new shares after the date of this press release and up through the record date. After the close of business on the record date, the Trust will announce the total number of shares that will be issued and outstanding immediately after effectiveness of the stock split on January 26, 2018, which will give effect to any such new shares created after the date of this press release and up through the record date.

Shareholders are not required to take any action to receive the shares in connection with the stock split and they will not be required to surrender or exchange their shares in the Trust. The transfer agent will automatically issue the new shares in the stock split.

The transfer agent for shares of the Trust is Continental Stock Transfer & Trust Company. For questions relating to the transfer or mechanics of the stock split, stockholders may contact Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, NY 10004-1561, or by phone at: 800-509-5586 (Domestic callers) or 212-509-4000 (International callers). If shares are held by a bank, broker or other nominee, stockholders should contact that institution directly.

Shareholders contemplating a transaction in the Trust’s shares between the record date and payment date should consult a broker regarding their entitlement to the split shares.

About Grayscale Investments, LLC

Founded in 2013, Grayscale Investments, LLC is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. A trusted authority on digital currency investing, Grayscale provides market insight and investment exposure to the developing digital currency asset class. Grayscale is the sponsor of the Bitcoin Investment Trust, the Ethereum Classic Investment Trust, and the Zcash Investment Trust.

Grayscale Investments, LLC is headquartered in New York City. www.grayscale.co

 

Cision View original content:http://www.prnewswire.com/news-releases/bitcoin-investment-trust-announces-stock-split-300581752.html

SOURCE Grayscale Investments, LLC

RXi Pharmaceuticals Announces Reverse Stock Split

Logo

RXi Pharmaceuticals Announces Reverse Stock Split

PR Newswire

MARLBOROUGH, Mass., Jan. 5, 2018 /PRNewswire/ — RXi Pharmaceuticals Corporation (NASDAQ: RXII), a clinical-stage company developing a new class of RNAi-based therapeutics, today announced a reverse stock split of its shares of common stock at a ratio of 1-for-10. The reverse stock split will become effective at 12:01 a.m. Eastern Time on January 8, 2018, and shares of RXi Pharmaceuticals common stock will trade on a post-split basis on the Nasdaq Capital Market under the Company’s existing trading symbol, “RXII,” at the market open on January 8, 2018. The new CUSIP number for the Company’s common stock following the reverse stock split will be 74979C808.  In addition, pursuant to their terms, a proportionate adjustment will be made to the per share exercise prices and number of shares issuable under all of the Company’s outstanding stock options and warrants to purchase shares of common stock. This includes adjustments made to the warrants that are currently trading on the Nasdaq Capital Market under the Company’s trading symbol, “RXIIW”. These warrants will trade on a post-split basis under the same trading symbol at the market open on January 8, 2018 and have a new CUSIP number—74979C121.

As previously reported, RXi Pharmaceuticals currently has until January 29, 2018 to regain compliance with the Nasdaq Stock Market’s minimum bid price requirement, and, to regain compliance, RXi Pharmaceuticals common stock must have a minimum bid price per share of at least $1.00 for 10 consecutive business days. The principal reason for the reverse stock split is to increase the per share trading price of the Company’s common stock in order to help ensure a share price high enough to satisfy the $1.00 per share minimum bid price requirement. However, there can be no assurance that the reverse stock split will have the desired effect of sufficiently raising the bid price of RXi Pharmaceuticals common stock for the required period.

The Board and Management of RXi Pharmaceuticals have carefully evaluated the positive and negative aspects that are associated with a reverse split, and in recent months several unsolicited comments on that topic have been received from individual shareholders as well as investment funds and investment bankers,” said Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals, adding that, “After taking all these comments in favor of or against a reverse split into account, the Board and the Management came to the conclusion that the best path forward is to implement a reverse split at a 1-for-10 ratio. Among the many arguments that were considered, the three most important are (1) that a listing on a national exchange has the potential to provide for additional value in any discussions regarding potential business development opportunities and strategic transactions; (2) that more long-term oriented biotech funds may consider a share price of several dollars as a requirement to consider an investment in a small biotech company; and (3) that a reverse split and the corresponding higher share price has the potential to create an environment that fosters lower share price volatility, on the basis of which shares can better appreciate in value as a result of positive news.”

The reverse stock split was approved by RXi Pharmaceuticals’ stockholders at the Company’s annual stockholder meeting held on June 6, 2017 and the Board of Directors was authorized to implement the reverse stock split and determine the ratio of the split within a range of not less than 1-for-2 or greater than 1-for-40. Thereafter, the Board of Directors determined to fix the ratio for the reverse stock split at 1-for-10.

At the effective time of the reverse stock split, every ten (10) shares of RXi Pharmaceuticals common stock will be combined into one (1) share of RXi Pharmaceuticals common stock. This will reduce the Company’s issued and outstanding common stock from approximately 24.3 million shares to approximately 2.4 million shares. The reverse stock split will also proportionately adjust outstanding options issued under the Company’s equity incentive plan and outstanding warrants to purchase common stock, including listed warrants trading on the Nasdaq Capital Market, as discussed above.

No fractional shares of common stock will be issued as a result of the reverse stock split and instead holders of RXi Pharmaceuticals common stock will receive a cash payment in lieu of fractional shares to which they would otherwise be entitled. After the effective time of the reverse stock split, shareholders with shares held in certificate form will receive a Letter of Transmittal and instructions from RXi Pharmaceuticals’ transfer agent, Computershare, Inc. Shareholders that hold shares in book-entry form or hold their shares in brokerage accounts are not required to take any action and will see the impact of the reverse stock split reflected in their accounts. Beneficial holders of RXi Pharmaceuticals common stock are encouraged to contact their bank, broker, custodian or other nominee with questions regarding procedures for processing the reverse stock split.

Additional information regarding RXi Pharmaceuticals’ reverse stock split is available in the definitive proxy statement, filed April 27, 2017, and Form 8-K filed today by RXi Pharmaceuticals with the U.S. Securities and Exchange Commission.

About RXi Pharmaceuticals Corporation

RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a clinical-stage company developing innovative therapeutics that address significant unmet medical needs.  Building on the pioneering discovery of RNAi, scientists at RXi have harnessed the naturally occurring RNAi process which can be used to “silence” or down-regulate the expression of a specific gene that may be overexpressed in a disease condition.  RXi developed a robust RNAi therapeutic platform, including self-delivering RNA (sd-rxRNA®) compounds, that have the ability to highly selectively block the expression of any target in the genome, thus providing applicability to many therapeutic areas. Our current programs include dermatology, ophthalmology, and cell-based immunotherapy.  RXi’s extensive patent portfolio provides for multiple product and business development opportunities across a broad spectrum of therapeutic areas, and we actively pursue research collaborations, partnering and out-licensing opportunities with academia and pharmaceutical companies. For additional information, visit the Company’s website, www.rxipharma.com.  

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about: our ability to realize any anticipated benefits from the reverse stock split, including attracting new investors and retaining our NASDAQ listing; our ability to consummate any strategic transactions; our ability to successfully develop RXI-109, Samcyprone™ and our other product candidates (collectively “our product candidates”); the future success of our clinical trials with our product candidates; the timing for the commencement and completion of clinical trials; our ability to enter into strategic partnerships and the future success of these strategic partnerships; and our ability to deploy our sd-rxRNA® technology through partnerships, as well as the prospects of these partnerships to provide positive returns. Forward-looking statements about expectations and development plans of RXi’s product candidates and partnerships involve significant risks and uncertainties, including the following: risks that we may not be able to successfully develop and commercialize our product candidates; risks that product development and clinical studies may be delayed, not proceed as planned and/or be subject to significant cost over-runs; risks related to the development and commercialization of products by competitors; risks related to our ability to control the timing and terms of collaborations with third parties; and risks that other companies or organizations may assert patent rights preventing us from developing or commercializing our product candidates. Additional risks are detailed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption “Risk Factors.”  Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. RXi does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release.

Contact
RXi Pharmaceuticals Corporation
Tamara McGrillen
508-929-3646
tmcgrillen@rxipharma.com 

Cision View original content:http://www.prnewswire.com/news-releases/rxi-pharmaceuticals-announces-reverse-stock-split-300578300.html

SOURCE RXi Pharmaceuticals Corporation