Karyopharm's 1-for-15 Reverse Stock Split: A Critical Juncture

Karyopharm Therapeutics (KPTI) has announced a 1-for-15 reverse stock split, effective February 25, 2025, at 5:00 p.m. Eastern Time. The split aims to increase the per-share market price of the Company's common stock to enable it to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. The Company's common stock is expected to begin trading on a split-adjusted basis when the markets open on February 26, 2025, under the Company's existing trading symbol "KPTI" with the new CUSIP number 48576U 205.

At the effective time of the Reverse Stock Split, every 15 shares of the Company's issued and outstanding common stock will be automatically reclassified and combined into 1 share of common stock. This will reduce the number of issued and outstanding shares of common stock from approximately 126.2 million shares to approximately 8.4 million shares. The Reverse Stock Split will proportionately reduce the number of authorized shares of the Company's common stock from 800,000,000 shares to 53,333,333 shares. In addition, proportionate adjustments will be made to the number of shares of common stock available for issuance under the Company's equity incentive plans; the number of shares underlying, and the exercise prices of, outstanding equity awards under such plans and outstanding warrants; and the conversion rates of outstanding convertible notes, in accordance with their respective terms and as described in the Company's proxy statement for the Special Meeting of Stockholders as filed with the Securities and Exchange Commission on December 16, 2024 (the "Proxy Statement").

No fractional shares will be issued, if, as a result of the Reverse Stock Split, a stockholder would otherwise become entitled to a fractional share because the number of shares of common stock they hold before the Reverse Stock Split is not evenly divisible by the split ratio. Instead, each stockholder will be entitled to receive a cash payment in lieu of a fractional share.

Computershare Trust Company, N.A., is acting as the exchange agent and transfer agent for the Reverse Stock Split. Stockholders holding their shares electronically are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker, or other nominee will have their positions adjusted to reflect the Reverse Stock Split and will receive payment for any fractional shares in accordance with their respective bank's, broker's, or nominee's particular processes.

Additional information about the Reverse Stock Split can be found in the Proxy Statement and on the Company's Investor Relations website at .

Karyopharm Announces 1-for-15 Reverse Stock Split
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Karyopharm Therapeutics Inc.
Feb 24, 2025, 08:40 ET
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NEWTON, Mass., Feb. 24, 2025 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that it will implement a 1-for-15 reverse stock split of the issued shares of the Company's common stock ("Reverse Stock Split"), effective at 5:00 p.m. Eastern Time on February 25, 2025. The Reverse Stock Split was approved by the Company's stockholders at the Company's Special Meeting of Stockholders held on January 30, 2025, with the final ratio subsequently determined by the Company's Board of Directors. One of the primary goals of the Reverse Stock Split is to increase the per-share market price of the Company's common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. The Company's common stock is expected to begin trading on a split-adjusted basis when the markets open on February 26, 2025 under the Company's existing trading symbol "KPTI" with the new CUSIP number 48576U 205. At the effective time of the Reverse Stock Split, every 15 shares of the Company's issued and outstanding common stock will be automatically reclassified and combined into 1 share of common stock. This will reduce the number of issued and outstanding shares of common stock from approximately 126.2 million shares to approximately 8.4 million shares. The Reverse Stock Split will proportionately reduce the number of authorized shares of the Company's common stock from 800,000,000 shares to 53,333,333 shares. In addition, proportionate adjustments will be made to the number of shares of common stock available for issuance under the Company's equity incentive plans; the number of shares underlying, and the exercise prices of, outstanding equity awards under such plans and outstanding warrants; and the conversion rates of outstanding convertible notes, in accordance with their respective terms and as described in the Company's proxy statement for the Special Meeting of Stockholders as filed with the Securities and Exchange Commission on December 16, 2024 (the "Proxy Statement"). No fractional shares will be issued, if, as a result of the Reverse Stock Split, a stockholder would otherwise become entitled to a fractional share because the number of shares of common stock they hold before the Reverse Stock Split is not evenly divisible by the split ratio. Instead, each stockholder will be entitled to receive a cash payment in lieu of a fractional share. Computershare Trust Company, N.A., is acting as the exchange agent and transfer agent for the Reverse Stock Split. Stockholders holding their shares electronically are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the Reverse Stock Split and will receive payment for any fractional shares in accordance with their respective bank's, broker's, or nominee's particular processes. Additional information about the Reverse Stock Split can be found in the Proxy Statement and on the Company's Investor Relations website at .