SALT LAKE CITY, June 22, 2015 (GLOBE NEWSWIRE) -- Perseon Corporation (Nasdaq:PRSN) ("Perseon" or the "Company"), a leading provider of medical systems that utilize energy to treat cancer, today announced that it will effect a one-for-ten reverse stock split at the opening of market trading on June 23, 2015.
When the reverse stock split becomes effective, every ten (10) shares of common stock outstanding will automatically convert into one (1) share of common stock with no change in par value per share. This will reduce the number of shares outstanding from approximately 40 million to approximately 4 million. Any fractional shares resulting from the reverse stock split will be rounded up to the next whole share. The company's common stock will continue to trade on The Nasdaq Capital Market under the symbol PRSN. The new CUSIP number for the common stock following the reverse split will be 715270 203.
The company's transfer agent, OTC Stock Transfer, Inc. will act as exchange agent for the reverse split. Stockholders holding common shares through a brokerage account will have their shares automatically adjusted to reflect the reverse split as of the effective date. The transfer agent may be reached at 801-272-7272.
Perseon Corporation invests its resources in fighting humanity's worst disease: cancer. Perseon's people are dedicated to finding innovative technologies and means to deliver energy solutions to healthcare providers and patients around the world. MicroThermX® treats soft tissue tumors with precision-focused energy, expanding the options and broadening the opportunities for cancer treatment.
Statements contained in this press release that are not historical facts, including statements relating to our focus on microwave ablation to create stockholder value and pursuit of our strategic plans are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties, including the risk that for a variety of reasons we may not be able to execute on our strategic plans, and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date, except as required by law.
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