Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split aims to regain compliance with Nasdaq listing requirements.
This move will reduce the outstanding common stock from 4.77 million shares to 1.59 million shares.
Reverse Stock Split
A 1 for 3 reverse stock split will bring the common stock in compliance with Nasdaq listing rules.
Impact on Shareholders
Existing shareholders will see a reduction in the number of shares they hold.
CEO's Statement
Richard Paolone emphasized the importance of Nasdaq listing for enhancing shareholder value.
- The reverse stock split will streamline the company's share structure.
- Entero Therapeutics aims to boost visibility and credibility through the Nasdaq listing.
- Shareholders will not receive fractional shares and will be compensated in cash.
The reverse stock split by Entero Therapeutics, Inc. reflects the company's strategic efforts to maintain Nasdaq listing compliance and enhance shareholder value.