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.
The split will reduce outstanding shares from approximately 4.77 million to 1.59 million.
Purpose of Reverse Split
To maintain Nasdaq market listing and enhance shareholder value.
Impact on Shares
Every 3 shares will be combined into 1, reducing outstanding shares.
Stockholder Entitlement
Cash will be given in lieu of fractional shares for stockholders.
CEO's Comment
Interim CEO Richard Paolone emphasized the importance of Nasdaq listing.
- The reverse split aims to enhance the company's visibility and credibility in the market.
- Maintaining the Nasdaq listing is crucial for Entero Therapeutics to attract investors and increase shareholder value.
The reverse stock split positions Entero Therapeutics for improved market positioning and investor confidence.