On Friday, Great Basin Scientific Inc (NASDAQ:GBSN)’s shares declined -26.59% to $0.0947.
Great Basin Scientific, Inc. (GBSN)’s common stock will open for trading on the Nasdaq Capital Market on Monday, December 14, 2015 on a post-split basis. At the effective time of the reverse stock split, every 60 shares of the Company’s issued and outstanding common stock, par value $0.001, will be merged into 1 newly issued and outstanding share of common stock, par value of $0.0001.
The reverse stock split will reduce the number of shares of the Company’s outstanding common stock from about 190.7 million to about 3.2 million. Proportional adjustments will be made to the Company’s outstanding preferred shares, unit purchase options, stock options, warrants, and equity incentive plan. The number of authorized shares of the Company’s common stock will remain unchanged.
Effectiveness of the reverse stock split will also cure the Company’s formerly declared Authorized Share Failure and at that time the Series C Warrants will become exercisable for the next 25 trading days as formerly declared on December 7, 2015.
Stockholders who have existing stock certificates will receive written instructions by mail from the Company’s transfer agent, American Stock Transfer & Trust Company, LLC. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares. Such stockholders will be contacted by their brokers with instructions. To the extent the reverse stock split would result in a stockholder owing a fractional share, such stockholder will have the number of post-reverse split shares to which they are entitled rounded up to the next whole number of shares. No stockholders will receive cash in lieu of fractional shares.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections. The company’s platform provides C. diff test, a rapid medical diagnostic test for the detection of C. diff, a gram-positive bacteria that causes severe diarrhea and other intestinal disorders. It also provides Group B streptococcus test, which is used to detect Group B streptococcus from an anal/vaginal swab of a pregnant woman.
Rite Aid Corporation (NYSE:RAD)’s shares dropped -0.89% to $7.81.
Walgreens Boots Alliance, Inc. (WBA) and Rite Aid Corporation (RAD) declared that, as predictable, the two companies have each received a request for additional information (“second request”) from the Federal Trade Commission (“FTC”) in connection with Walgreens Boots Alliance’s projected acquisition of Rite Aid. The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). This second request is a standard part of the regulatory process in connection with the FTC’s review.
The transaction, which was declared 27 October 2015, is subject to approval of Rite Aid’s stockholders and satisfaction of other customary closing conditions, counting expiration or termination of the waiting period under the HSR Act. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Walgreens Boots Alliance and Rite Aid have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Walgreens Boots Alliance and Rite Aid have been cooperating with the FTC staff since shortly after the declaration of the projected acquisition. Both companies expect the transaction to close in the second half of calendar 2016.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
At the end of Friday’s trade, CME Group Inc (NASDAQ:CME)‘s shares dipped -2.92% to $92.15.
CME Group, the world’s leading and most diverse derivatives marketplace, declared that one million contracts have now been traded on its London-based derivatives exchange, CME Europe. CME Europe launched in April 2014, and the total volume of contracts traded since launch stood at 1,002,497 as of 10 December 2015.
CME Europe’s growth has been broadly driven across its product range in FX, energy and agricultural commodities futures contracts. This comprises the award winning, euro-denominated, physically delivered cocoa futures contract launched in May 2015.
Cees Vermaas, CEO of CME Europe, said: “CME Europe has established itself in the European market, and our commitment to providing customers with choice and best-in-class processes for clearing, margining and pricing is resonating with a wide range of market users. This milestone is an important one for our growth overall, and we remain committed to serving the risk administration needs of market participants in Europe.”
CME Group Inc., through its auxiliaries, owns and operates derivatives marketplace for the trading of futures and options worldwide. It offers a range of products for trading and/or clearing across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals.