Cyanotech Completes Going-Private Transaction, Initiates Delisting Process

summarizeSummary

Cyanotech Corporation has filed a final amendment confirming the completion of its reverse/forward stock split, effectively taking the company private and initiating the process to terminate SEC reporting obligations.

check_boxKey Events

• Going-Private Transaction Completed

  On February 9, 2026, Cyanotech completed its previously announced reverse/forward stock split, effectively taking the company private.

• Minority Shareholders Cashed Out

  Shareholders owning fewer than 400 pre-split shares were cashed out at $0.47 per share, extinguishing their equity interest.

• Intent to Delist

  The company now has fewer than 300 record holders and intends to file a Form 15 to terminate its SEC registration and reporting obligations.

• Transaction Costs

  The total cost for the transaction, including cash payments and related fees, is approximately $207,735.96, funded from existing cash.

auto_awesomeAnalysis

This SC 13E3/A Amendment No. 2 marks the definitive conclusion of Cyanotech's 'going private' transaction, which was previously disclosed on January 12, 2026, and further detailed on February 3, 2026. The company completed a 400-for-1 reverse stock split on February 9, 2026, followed by a 1-for-400 forward split. Shareholders holding fewer than 400 pre-split shares were cashed out at $0.47 per share. The primary objective was to reduce the number of record holders to below 300, enabling the company to terminate its SEC registration and reporting obligations by filing a Form 15. This event fundamentally alters the investment thesis for public shareholders, as their ownership has been extinguished, and the stock will no longer trade publicly.