Adamis Pharmaceuticals Announces 1-For-70 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Adamis Pharmaceuticals (NASDAQ: ADMP) announced a 1-for-70 reverse stock split effective on May 22, 2023, to regain compliance with Nasdaq's minimum bid price requirement and as a closing condition for its merger with DMK Pharmaceuticals.

May 19, 2023 | 4:08 pm
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Adamis Pharmaceuticals' 1-for-70 reverse stock split aims to regain Nasdaq compliance and is a condition for its merger with DMK Pharmaceuticals.
The reverse stock split is intended to increase the market price per share of ADMP's common stock to regain compliance with Nasdaq's minimum bid price requirement. This is important for maintaining its listing on Nasdaq and for the completion of its merger with DMK Pharmaceuticals. However, the short-term impact on the stock price is uncertain, as the market may react positively to the company's efforts to regain compliance and complete the merger, or negatively due to the dilution effect of the reverse split.
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