Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse split is part of a plan to regain compliance with Nasdaq listing requirements.
This move reduces the outstanding common stock from approximately 4.77 million shares to 1.59 million shares.
Reverse Stock Split
Entero Therapeutics, Inc. is implementing a 1 for 3 reverse stock split to maintain Nasdaq listing compliance.
Share Consolidation
No fractional shares will be issued; shareholders entitled to fractional shares will receive cash instead.
CEO's Statement
Interim CEO Richard Paolone emphasizes the importance of Nasdaq listing for shareholder value.
- The reverse split increases the bid price per share, addressing Nasdaq's continued listing requirement.
- Reducing the outstanding common stock enhances the company's market perception and credibility.
Entero Therapeutics' reverse stock split demonstrates its commitment to maintaining Nasdaq listing standards and enhancing shareholder value.