Rallybio Corporation announced a one-for-two reverse stock split effective November 20, 2026, as a procedural step to facilitate its merger with Avenzo Therapeutics and transition to the new ticker symbol AVZO on the Nasdaq.
A one-for-two reverse split, effective November 20, 2026, cuts shares outstanding from about 5.6 million to about 2.8 million and mechanically doubles the share price without changing any holder's equity value. It is a procedural step ahead of the Avenzo merger, which stockholders approved on November 4, 2026. The split itself does not change fundamentals, though it signals the companies are positioning the combined entity to meet Nasdaq listing standards.
Rallybio Corporation will execute a one-for-two reverse stock split effective November 20, 2026, to align with its pending merger with Avenzo Therapeutics. The move will reduce outstanding common shares from approximately 5.6 million to 2.8 million, positioning the combined entity to meet Nasdaq listing standards. Following the merger's completion, the company plans to rebrand as Avenzo Therapeutics and trade under the ticker symbol AVZO.
No. Every two shares combine into one, so the share price doubles and each holder keeps the same percentage ownership. Only fractional shares are cashed out at fair market value on the effective date.
No. After the merger closes, the company plans to rename itself Avenzo Therapeutics and trade on Nasdaq under the new symbol AVZO.