BioStem Technologies, Inc. [BSEM] - spin-off adjustments
In the event of a spin-off or similar corporate action, BioStem Technologies will adjust the number and class of shares deliverable under its Plans to prevent benefit dilution, with awards subject to termination prior to any proposed dissolution or merger.
Why this matters
BioStem Technologies, Inc., a Florida-based company in the biological products industry, focuses on developing and commercializing regenerative medicine products, particularly those involving tissue and cellular therapies. The company has announced adjustments to its equity awards under its Long-Term Incentive Plan in the context of a spin-off or similar corporate action. This adjustment aims to prevent benefit dilution by modifying the number and class of shares deliverable under its plans, with provisions for awards to be terminated prior to any proposed dissolution or merger. The spin-off process is in its early stages, with trading of the new entity expected to commence in 3 to 9 months, as indicated by the filing of a Form 10-12B registration.