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.
This move will reduce the outstanding common stock shares from approximately 4.77 million to about 1.59 million.
Purpose of Reverse Stock Split
To comply with Nasdaq listing rule requiring a minimum bid price of $1.00 per share.
Share Consolidation
Every 3 shares will be combined into 1, reducing outstanding shares significantly.
Impact on Shareholders
Stockholders will receive cash instead of fractional shares post-split.
- The reverse stock split is a strategic step to maintain the Nasdaq listing and enhance shareholder value.
- This action aims to improve the visibility and credibility of Entero Therapeutics, Inc. in the market.
The reverse stock split by Entero Therapeutics, Inc. reflects its commitment to meeting Nasdaq requirements and strengthening shareholder value.