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 visibility and credibility of a Nasdaq listing is crucial for enhancing shareholder value.
Reverse Stock Split
1 for 3 reverse stock split reduces outstanding shares from 4.77 million to 1.59 million.
Listing Compliance
Action taken to comply with Nasdaq Listing Rule 5550(a)(2) minimum bid price requirement.
Shareholder Value
Efforts to maintain Nasdaq listing aim to enhance visibility and credibility for shareholders.
- The reverse stock split combines every 3 shares into 1 to meet listing requirements.
- No fractional shares will be issued; shareholders entitled to cash instead.
- Interim CEO emphasizes the importance of Nasdaq visibility for shareholder value.
The reverse stock split is a strategic move to uphold Nasdaq listing compliance and enhance shareholder value in Entero Therapeutics, Inc.