NEW YORK (GenomeWeb) – Great Basin Scientific late Wednesday announced it will implement a 1-for-80 reverse split of its common shares on Sept. 16.

At that time, every 80 shares will be consolidated into one newly issued and outstanding share, reducing the total number of outstanding shares to about 1 million from the current 78.4 million. Proportional adjustments will be made to outstanding preferred shares, stock options, warrants, and equity incentive plans, Great Basin said.

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