Organigram Completes Share Consolidation
Portfolio Pulse from Vuk Zdinjak
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) has completed a share consolidation at a ratio of four pre-consolidation common shares for every one post-consolidation common share. The move was made to ensure the company continues to comply with Nasdaq listing requirements after its common share price fell below an average of $1.00 for a consecutive 30 trading-day period. The post-consolidation common shares will commence trading on July 7, 2023.
July 06, 2023 | 1:27 pm
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NEUTRAL IMPACT
Organigram's share consolidation is expected to restore compliance with Nasdaq’s continued listing standards and provide access to a broad universe of investors, access to equity capital and trading liquidity.
The share consolidation is a significant event for Organigram as it aims to restore compliance with Nasdaq’s listing standards. This could potentially attract more investors, increase access to equity capital and improve trading liquidity. However, the impact on the stock price in the short term is uncertain as it will depend on investor reaction to the consolidation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100