Shapeways 1-For-8 Reverse Stock Split Becomes Effective At 4:01 p.m. Eastern Time On June 22, 2023
Portfolio Pulse from Benzinga Newsdesk
Shapeways Holdings, Inc. (NYSE:SHPW) has announced a 1-for-8 reverse stock split effective at 4:01 p.m. Eastern Time on June 22, 2023. The primary goal is to increase the per share market price to meet the minimum $1.00 average closing price requirement for continued listing on the NYSE.
June 22, 2023 | 8:16 pm
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NEUTRAL IMPACT
Shapeways' 1-for-8 reverse stock split aims to increase the per share market price to meet the NYSE's minimum $1.00 average closing price requirement.
The reverse stock split will affect all stockholders uniformly and does not affect any stockholder's ownership percentage of the common stock. The primary goal is to increase the per share market price to meet the minimum $1.00 average closing price requirement for continued listing on the NYSE. This action is neutral for the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100