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 is expected to reduce the outstanding common stock from approximately 4.77 million shares to 1.59 million shares.
Reverse Stock Split
Company to effect a 1 for 3 reverse stock split to maintain Nasdaq listing compliance.
Impact on Stockholders
Stockholders will see their shares consolidated, reducing the outstanding common stock.
CEO's Statement
Interim CEO emphasized the importance of Nasdaq listing for shareholder value enhancement.
- The reverse stock split is a strategic move to meet Nasdaq listing standards.
- Consolidating shares is a common step to adjust stock price and maintain market visibility.
The reverse stock split demonstrates Entero Therapeutics' commitment to complying with Nasdaq regulations and enhancing shareholder value through market visibility and credibility.