Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split is part of a plan to regain compliance with Nasdaq Listing Rule 5550(a)(2).
Shareholders will see a reduction from approximately 4.77 million shares to 1.59 million shares.
Reverse Stock Split
Entero Therapeutics will implement a 1 for 3 reverse stock split to meet Nasdaq listing requirements.
Board Approval
The reverse stock split was approved by the Company's Board of Directors and shareholders.
CEO Statement
Interim CEO Richard Paolone emphasized the importance of the listing on Nasdaq for enhancing shareholder value.
- The reverse stock split aims to increase visibility and credibility for Entero Therapeutics on the Nasdaq market.
- Reducing the outstanding shares may help stabilize the stock price and attract more institutional investors.
Entero Therapeutics' reverse stock split reflects strategic efforts to comply with Nasdaq listing requirements and enhance shareholder value.