Talis Biomedical Announces 1-For-15 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Talis Biomedical Corporation (NASDAQ:TLIS) has announced a 1-for-15 reverse stock split of its common stock, effective at 5:00 p.m. Eastern time on July 5, 2023. The move is primarily intended to increase the company's per share market price to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The reverse stock split will reduce the number of issued and outstanding shares of the company's common stock from approximately 26.9 million to approximately 1.8 million.
July 05, 2023 | 12:06 pm
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NEUTRAL IMPACT
Talis Biomedical's 1-for-15 reverse stock split is aimed at increasing the per share market price to meet Nasdaq's minimum bid price requirement. This will reduce the number of outstanding shares from 26.9 million to 1.8 million.
The reverse stock split will increase the per share price of TLIS, making it more attractive to investors and helping it meet Nasdaq's minimum bid price requirement. However, it will also reduce the number of outstanding shares, which could lead to increased volatility. The impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100