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 Company's outstanding common stock from approximately 4.77 million shares to approximately 1.59 million shares.
Purpose of the Reverse Stock Split
To maintain listing on the Nasdaq Capital Market by meeting bid price requirements.
Impact on Stockholders
Every 3 shares will be combined into 1, reducing outstanding common stock.
CEO's Statement
Richard Paolone emphasizes the importance of the split for maintaining Nasdaq listing and shareholder value.
- The reverse stock split will affect the trading price and outstanding shares of Entero Therapeutics, Inc.
- The Company's compliance with Nasdaq rules is crucial for its visibility and credibility in the market.
Entero Therapeutics, Inc.'s reverse stock split demonstrates a strategic effort to enhance shareholder value and maintain Nasdaq listing requirements. This move reflects the Company's commitment to long-term stability and growth in the biopharmaceutical sector.