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 requirements.
The split will reduce the outstanding common stock from approximately 4.77 million shares to 1.59 million shares.
Reverse Stock Split
The company will effect a 1 for 3 reverse stock split to meet Nasdaq listing requirements.
Board Approval
The reverse stock split was approved by the Board of Directors and shareholders.
Impact on Shares
Shareholders will see their 3 shares combined into one share after the split.
- The reverse split aims to enhance shareholder value and maintain Nasdaq listing visibility.
- Reducing the outstanding common stock will impact the market perception of the company.
The reverse stock split by Entero Therapeutics, Inc. is a strategic move to fulfill Nasdaq listing requirements and potentially boost shareholder value.