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 action will reduce the outstanding common stock from approximately 4.77 million shares to around 1.59 million shares.
Reverse Stock Split
1 for 3 reverse stock split to maintain Nasdaq market listing.
Board Approval
Approved by the Board of Directors and shareholders.
Compliance Requirement
Meant to meet Nasdaq Listing Rule 5550(a)(2) on bid price maintenance.
- The reverse stock split will enhance the company's visibility and credibility on the Nasdaq market.
- Shareholders will see a reduction in outstanding common stock shares.
The reverse stock split is a strategic move by Entero Therapeutics, Inc. to ensure continued listing compliance and enhance shareholder value.