CHF Solutions (NSDQ: CHFS) said yesterday it enacted a 1-for-20 reverse split of its common stock, putting 1 share in the hands of each shareholder for every 20 they previously owned.
The move was approved at a special meeting of stockholders on Tuesday, the Eden Prairie, Minn.-based company said, with trading beginning on a split adjusted basis today.
With the split, the total number of authorized shares of CHF Solutions, formerly known as Sunshine Heart, will remain at 100 million, though the number of outstanding shares was reduced from approximately 12.5 million to approximately 626,000, according to a press release.
In June, CHF Solutions said that researchers at Stanford University School of Medicine’s dept. of pediatrics won FDA investigational device exemption approval to initiate a study of its Aquadex FlexFlow aquapheresis system.
