Inhibikase Therapeutics Announces A 1-For-6 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has announced a 1-for-6 reverse stock split of its common stock, effective from June 30, 2023. The move is intended to bring the company into compliance with Nasdaq's minimum bid price requirement. The number of outstanding shares will reduce from approximately 31.6 million to about 5.3 million. No fractional shares will be issued; instead, stockholders will receive one whole share in lieu of such fractional share.
June 29, 2023 | 1:31 pm
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Inhibikase Therapeutics' 1-for-6 reverse stock split could potentially increase the stock's price by reducing the number of outstanding shares. However, the overall market value of the company remains the same.
A reverse stock split reduces the number of shares outstanding, which can lead to an increase in the stock price. However, it does not change the overall market value of the company. It's a neutral move as it doesn't affect the company's fundamentals but can make the stock more appealing to certain investors.
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