Bit Origin Ltd Announces Effective Date Of May 30, 2023 For 1-For-30 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Bit Origin Ltd (NASDAQ:BTOG) has announced a 1-for-30 reverse stock split effective on May 30, 2023. The reverse stock split will reduce the number of outstanding ordinary shares from approximately 100.9 million to approximately 3.3 million.
May 26, 2023 | 5:17 pm
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Bit Origin's 1-for-30 reverse stock split will reduce the number of outstanding shares from 100.9 million to 3.3 million, effective May 30, 2023.
The reverse stock split will reduce the number of outstanding shares, which may lead to a higher stock price due to the reduced supply. However, the overall market capitalization remains the same, and the impact on the stock price in the short term is uncertain. The company's performance and market conditions will also play a role in determining the stock price movement.
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