Agrify Board Approves 1-For-20 Reverse Stock Split, To Be Effective As July 5, 2023
Portfolio Pulse from Benzinga Newsdesk
Agrify's board has approved a 1-for-20 reverse stock split, effective from July 5, 2023. The move is aimed at increasing the per share trading price of the company's common stock to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

July 03, 2023 | 11:02 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Agrify's 1-for-20 reverse stock split is expected to increase the per share trading price, helping the company to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the share price. This is expected to help Agrify meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. However, the impact on the stock's value will depend on market reaction to the split.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100