PHILADELPHIA, PA — Passage Bio, Inc. (NASDAQ: PASG) announced that its Board of Directors has approved a 1-for-20 reverse stock split, set to take effect at 12:01 a.m. Eastern time on July 14, 2025. Beginning that day, Passage Bio’s common stock will trade on a split-adjusted basis under the existing symbol “PASG” and a new CUSIP number, 702712 209.
The move aims to help the company regain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. Passage Bio’s shareholders had previously approved the reverse split at the 2025 annual meeting held on May 28, granting the Board authority to determine the timing and ratio within an approved range.
Following the split, the number of outstanding common shares will decrease significantly from approximately 62.4 million to roughly 3.1 million. However, the total number of authorized shares and the par value per share will remain unchanged. Adjustments will also be made to the company’s outstanding equity awards, including option exercise prices and share counts, to maintain alignment with the new share structure.
Passage Bio’s transfer agent, Computershare Trust Company, N.A., will manage the technical process of the split. Shareholders holding stock electronically do not need to take any action, as updates will occur automatically. Those with shares held in brokerage accounts will see their positions adjusted in line with broker-specific procedures. Since no stock is held in certificate form, there will be no need for certificate exchanges.
Importantly, no fractional shares will be issued. Instead, any shareholder entitled to a fraction will receive their holdings rounded up to the nearest whole share. The reverse stock split will impact all shareholders equally and will not change individual ownership percentages, apart from adjustments necessary to avoid fractional shares.
The restructuring reflects Passage Bio’s ongoing efforts to stabilize its share price and ensure continued listing on the Nasdaq Capital Market, a critical step as the company advances its clinical and strategic initiatives.
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