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 strategic move will reduce the outstanding common stock and enhance shareholder value.
Stock Split Implementation
Every 3 shares will be combined into 1, reducing outstanding shares from 4.77 million to 1.59 million.
Compliance with Nasdaq Listing Rule
Reverse split is part of a plan to meet the $1.00 per share bid price requirement for Nasdaq listing.
CEO's Statement
Richard Paolone views the reverse split as essential for maintaining Nasdaq market listing and shareholder value enhancement.
- The reverse stock split will adjust the trading price of common stock on the Nasdaq Capital Market.
- Reduced outstanding shares will impact liquidity and signaling increased stability to investors.
Entero Therapeutics, Inc.'s decision to implement a reverse stock split demonstrates its commitment to compliance and shareholder value. This strategic move will position the company for enhanced market visibility and credibility.