Lyell Immunopharma to Implement 1-for-20 Reverse Stock Split, Shares to Shrink to 14.8 Million

Summary

Lyell Immunopharma (LYEL), a clinical-stage T-cell therapeutics company, has announced a 1-for-20 reverse stock split of its common stock. The move, authorized by stockholders on May 15, 2025, will become effective at 5:00 p.m. Eastern Time on May 30, 2025. Following the split, every 20 shares of Lyell's common stock will convert into one share, without any change in par value.

This reverse split will significantly reduce the number of outstanding shares. As of May 27, 2025, Lyell had over 296 million shares outstanding. Immediately after the split, this figure is expected to drop to approximately 14.8 million shares, assuming no other share activity. Proportionate adjustments will also be made to the exercise prices and the number of shares issuable under outstanding stock options and restricted stock units. Shareholders who would otherwise receive a fractional share will instead receive a cash payment. Lyell's common stock is set to begin trading on a split-adjusted basis on the Nasdaq Global Select Market when the market opens on June 2, 2025, under a new CUSIP number (55083R203). The reverse split will affect all stockholders proportionately, preserving their percentage ownership, apart from the impact of fractional share payouts.

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Lyell Immunopharma to Implement 1-for-20 Reverse Stock Split, Shares to Shrink to 14.8 Million

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