Biotricity Announces 1-For-6 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Biotricity Holdings, Inc. (NASDAQ:BTCY) has announced a 1-for-6 reverse stock split to increase the per share trading price and satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The reverse split will reduce the company's outstanding common stock from approximately 51 million shares to approximately 8.5 million shares.
June 30, 2023 | 5:06 pm
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Biotricity's reverse stock split is aimed at maintaining its Nasdaq listing by increasing the per share trading price. This will reduce the number of outstanding shares, potentially leading to increased demand and price per share in the short term.
The reverse stock split will reduce the number of Biotricity's outstanding shares, which could increase the demand and price per share in the short term. However, the long-term impact will depend on the company's performance and market conditions.
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