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DCTH > SEC Filings for DCTH > Form 8-K on 20-Mar-2014All Recent SEC Filings

Show all filings for DELCATH SYSTEMS, INC.



Other Events

Item 8.01. Other Events.

As previously disclosed in a Current Report on Form 8-K filed on February 25, 2014, at a Special Meeting of Stockholders of Delcath Systems, Inc. (the "Company") held on February 24, 2014, the Company's stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's common stock at a specific ratio within a range from 1-for-8 to 1-for-16, inclusive, on or prior to December 31, 2014 and granted authorization to the Company's Board of Directors to determine, in its sole discretion, whether to implement the reverse stock split (the "Reverse Stock Split"), as well as its specific timing and ratio.

The Company currently expects that the Reverse Stock Split will be effective with respect to stockholders of record at the close of business on April 8, 2014 and that trading of the Company's common stock on The NASDAQ Capital Market on a split-adjusted basis will begin at the opening of trading on April 9, 2014. As a result of the Reverse Stock Split, each sixteen shares of common stock will be combined into one share of common stock and the total number of shares of common stock outstanding will be reduced from approximately 150.7 million shares to approximately 9.4 million shares.

No fractional shares would be issued if, as a result of the Reverse Stock Split, a registered stockholder would otherwise become entitled to a fractional share. Instead, stockholders who otherwise would be entitled to receive fractional shares because they hold a number of shares not evenly divisible by the ratio of the Reverse Stock Split will automatically be entitled to receive an additional share of common stock. In other words, any fractional share will be rounded up to the nearest whole number.

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