Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split is to regain compliance with Nasdaq listing requirements by maintaining a minimum bid price per share.
This action will reduce the outstanding common stock from approximately 4.77 million shares to about 1.59 million shares.
Reason for Reverse Split
To maintain listing compliance and enhance shareholder value.
Effect on Outstanding Shares
Reduces outstanding common stock from 4.77 million to 1.59 million shares.
No Fractional Shares Issued
Stockholders entitled to receive cash in lieu of fractional shares.
- The reverse split aims to maintain visibility and credibility through a Nasdaq listing.
- Shareholders will have consolidated ownership with reduced total shares.
The reverse split marks a strategic move by Entero Therapeutics to ensure compliance and enhance shareholder value in the market.