Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split is aimed at regaining compliance with Nasdaq Listing Rule 5550(a)(2).
This move will reduce the outstanding common stock from approximately 4.77 million shares to around 1.59 million shares.
Reverse Stock Split Implemented
Every 3 shares will be combined into one share, reducing outstanding common stock.
Reason for Reverse Split
To maintain listing on the Nasdaq market and enhance shareholder value.
No Fractional Shares
No fractional shares will be issued; stockholders will receive cash in lieu of fractional shares.
- The reverse stock split aims to improve the stock's bid price for continued listing.
- Enhanced visibility and credibility with a Nasdaq listing are crucial for shareholder value.
Entero Therapeutics, Inc.'s reverse stock split decision reflects its commitment to maintaining Nasdaq listing standards and shareholder confidence.