Derma Sciences implements reverse stock split for trading on NASDAQ Stock Market

Jan 29 2010

Derma Sciences, Inc. (OTC Bulletin Board: DSCI), a specialty medical device/pharmaceutical company focused on advanced wound care, today announced that it would implement an 8-for-1 reverse split of its issued and outstanding common shares, effective for shareholders of record on February 1, 2010, and a proportional reduction of its authorized common and preferred shares. Immediately after the stock split, Derma Sciences will have 5,039,468 common shares outstanding.  The split is effective at 12:01 am EST February 1, 2010.

"We undertook the reverse stock split as part of our plan to list our common stock for trading on the NASDAQ Stock Market," commented Derma Sciences' CEO, Edward Quilty. "This reverse split should enable us to meet the minimum per share price requirement of NASDAQ.  We believe that our listing on NASDAQ will be viewed as a positive development by both our shareholders and the investment community."

For the 20-day period following implementation of the reverse split, Derma Sciences' ticker symbol will be "DSCID" to reflect the post-split price. Following that period, the ticker symbol will revert to "DSCI."