VYNE approves 1-for-50 reverse split, sets special dividend ahead of Yarrow merger

VYNE Therapeutics announced on July 21, 2026 that its board approved a 1-for-50 reverse stock split of its common stock ahead of its planned merger with Yarrow Bioscience, Inc. The reverse stock split was approved in connection with the anticipated closing of the proposed merger with Yarrow Bioscience.¹ Stockholders had already approved the split at a special meeting held July 16, 2026.¹

The split is expected to reduce VYNE's outstanding common stock from approximately 33.4 million shares to approximately 0.7 million shares.¹ Stockholders also approved raising VYNE's authorized share count from 150,000,000 to 300,000,000 shares in connection with the merger.¹ Any fractional shares will be cashed out based on the closing price on July 23, 2026, adjusted for the split.¹

Separately, VYNE detailed a special cash dividend tied to the merger agreement originally signed December 17, 2025. The aggregate cash dividend totals $17.3 million, or approximately $0.40242 per share, based on 42,989,506 shares of common stock and equivalents outstanding as of July 20, 2026, payable to stockholders of record as of July 22, 2026.¹ The dividend will also be paid to VYNE's warrant holders of record as of that date.¹

Because the dividend exceeds 25% of VYNE's stock price on the declaration date, Nasdaq is expected to set July 24, 2026 as the ex-dividend date, with distribution occurring July 23, 2026.¹ A due bill period beginning July 21, 2026 will attach dividend obligations to trades through the payment date.¹

The merger is expected to close on or about July 24, 2026, subject to satisfaction or waiver of closing conditions.¹ Following the split and merger, the combined company is expected to begin trading under the name "Yarrow Bioscience, Inc." with ticker "YARW" on July 27, 2026.¹ Total shares outstanding post-merger are expected to be approximately 2.7 million, or about 33.6 million fully diluted.¹