AlloVir Implements Reverse Stock Split, Effective Immediately

AlloVir, Inc. (NASDAQ: ALVR) recently made a significant announcement regarding a reverse stock split that has now been implemented. The decision for the reverse stock split was ratified at the Special Meeting of Stockholders on January 9, 2025, with approval received from AlloVir’s Board of Directors.

Following the approval, the Board decided on a 1-for-23 reverse stock split for AlloVir’s issued Common Stock. This action came into effect at 4:05 p.m. Eastern Time on January 15, 2025. As per the reverse stock split, every twenty-three shares of Common Stock outstanding were combined into one newly issued share, fully paid and non-assessable.

It’s crucial to note that no fractional shares were issued during this process. Shareholders who were due fractional shares are entitled to receive a cash payment equivalent. This payment will be calculated based on the fraction that would have constituted the fractional share and the closing sales price per share of the Common Stock on January 15, 2025.

Trading of AlloVir’s Common Stock on The Nasdaq Capital Market will henceforth proceed on a split-adjusted basis starting January 16, 2025, under its existing symbol “ALVR.” The company’s post-split Common Stock will be identified by the new CUSIP number 019818202.

The full details of the reverse stock split action can be accessed in the certificate of amendment, which has been included as Exhibit 3.1 to the recent Current Report on Form 8-K filed with the Securities and Exchange Commission.

Moreover, it’s important to emphasize that this announcement is related to the proposed merger involving AlloVir and Kalaris Therapeutics, Inc. More comprehensive information regarding the Reverse Stock Split and the merger can be found in the Proxy Statements filed with the SEC.

Investors and stockholders are encouraged to carefully review all the pertinent documents related to this action for a complete understanding of the situation. These documents are accessible through the SEC’s website or AlloVir’s official website.

The implementation of the reverse stock split by AlloVir is a strategic move in alignment with its broader corporate objectives and the upcoming merger discussions.

This article does not constitute any overt solicitation for trading of securities but rather serves to inform stakeholders and interested parties about the recent corporate actions undertaken by AlloVir.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AlloVir’s 8K filing here.

AlloVir Company Profile

Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus.