Rallybio sets 1-for-2 reverse stock split ahead of Avenzo merger

Rallybio Corporation said on November 10, 2026 that its board had set a one-for-two reverse stock split of its common stock, a move connected to the merger agreement signed with Avenzo Therapeutics, Inc. dated May 31, 2026. The split is tied to the transactions contemplated by the Agreement and Plan of Merger and Reorganization among Rallybio, Avenzo Therapeutics, Inc. and Farmington Merger Sub, Inc., a wholly owned subsidiary of Rallybio.¹

Rallybio stockholders had already authorized a range of possible split ratios. At Rallybio's Annual Meeting of Stockholders on November 4, 2026, investors approved a charter amendment permitting a reverse split ratio anywhere between one-for-two and one-for-nine, with Rallybio and Avenzo to jointly pick the final number.¹ On November 8, 2026, Rallybio's board, with Avenzo's agreement, settled on the one-for-two ratio.¹

The split is set to take effect at 12:01 a.m. Eastern time on November 20, 2026, ahead of the expected closing of the merger.¹ Once Nasdaq signs off and the deal closes, the combined company intends to operate under a new identity. Rallybio plans to rename itself Avenzo Therapeutics, Inc. and begin trading on the Nasdaq Capital Market under the symbol "AVZO," with a new CUSIP number, 053928 107.¹

Mechanically, each pair of existing Rallybio shares will be converted into a single share, cutting the outstanding share count from roughly 5.6 million down to about 2.8 million before accounting for the merger's closing effects.¹ The split will not change Rallybio's authorized share count or its $0.0001 par value.¹ No fractional shares will be issued; holders entitled to a fraction will instead get a cash payment based on the stock's closing price on the effective date.¹ Computershare Trust Company, N.A. will serve as exchange and transfer agent for the process.¹