Entero Therapeutics, Inc. announced a 1 for 3 reverse stock split of its common stock.
The reverse stock split aims to maintain compliance with Nasdaq listing requirements.
This step is part of the Company's effort to enhance shareholder value and credibility.
Reverse Stock Split
1 for 3 reverse stock split to comply with Nasdaq Listing Rule 5550(a)(2).
Reduced Outstanding Shares
Outstanding common stock to decrease from 4.77 million shares to approximately 1.59 million shares.
No Fractional Shares
Cash to be issued in lieu of fractional shares for stockholders.
CEO's Comment
Interim CEO, Richard Paolone, emphasizes the importance of Nasdaq listing for shareholder value.
- The reverse stock split may improve the perception of the Company's stock value among investors.
- Enhanced visibility on the Nasdaq Capital Market can attract more interest and potentially increase shareholder value.
Entero Therapeutics, Inc.'s reverse stock split represents a strategic move to maintain Nasdaq listing compliance and enhance shareholder value. The Company's commitment to visibility and credibility is evident in this decision.