Panbela Announces 1-For-30 Reverse Stock Split Effective June 1, 2023
Portfolio Pulse from Happy Mohamed
Panbela Therapeutics (NASDAQ:PBLA) announced a 1-for-30 reverse stock split effective June 1, 2023, to increase the market price per share and regain compliance with Nasdaq Capital Market listing requirements. The number of outstanding shares will be reduced to approximately 559,560.
May 31, 2023 | 12:27 pm
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Panbela's 1-for-30 reverse stock split aims to increase the market price per share and regain Nasdaq compliance, reducing outstanding shares to around 559,560.
The reverse stock split is intended to increase the market price per share and regain compliance with Nasdaq listing requirements. While this may initially create a positive perception of the stock, the long-term impact on the stock price is uncertain as it depends on the company's ability to meet other listing requirements and its overall performance.
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