Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split aims to maintain compliance with the Nasdaq listing rules.
This strategic move will reduce the outstanding common stock and enhance shareholder value.
Reverse Stock Split
A 1 for 3 reverse stock split is being implemented to meet Nasdaq listing requirements.
Effect on Shares
The reverse split will reduce outstanding shares from 4.77 million to approximately 1.59 million.
Leadership Comment
The Interim CEO highlighted the importance of the Nasdaq listing in enhancing shareholder value.
- The reverse split will consolidate shares, potentially increasing the share price.
- Maintaining a Nasdaq listing can enhance the company's visibility and credibility in the market.
Entero Therapeutics, Inc. takes a strategic step with the reverse stock split to strengthen its position in the market and signal commitment to compliance and shareholder value.