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Each 50 shares of issued and outstanding Genta common stock will combine into 1 share of common stock, reducing the total outstanding shares to about 100m. All other instruments, that are convertible into Genta common stock shares, will also be affected.
Certificates holders of 'old' Genta common stock before the effective date can surrender those and receive 'new' shares at the same one for fifty ratio. Fractional shares will not be issued and qualified fractional shareholders will receive an equivalent cash amount based on the closing price of Genta's common stock on 30 June 2009.
The company's transfer agent is BNY Mellon Shareowner Services, which will mail a Letter of Transmittal with instructions regarding the exchange to existing Genta common stock certificates holders.
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