Bright Minds Goes For 5:1 Shares Consolidation, Hopes To Regain NASDAQ Compliance
Portfolio Pulse from Lara Goldstein
Bright Minds Biosciences Inc. (NASDAQ:DRUG) is planning a 5:1 consolidation of its common shares to increase its attractiveness to investors and regain compliance with NASDAQ’s minimum bid price requirement. The company currently has 18,860,359 common shares issued and outstanding, which will be reduced to approximately 3,772,071 total common shares post-consolidation. The consolidated shares are expected to begin trading on July 14.
July 11, 2023 | 7:25 pm
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Bright Minds Biosciences is planning a 5:1 share consolidation to regain NASDAQ compliance. This could potentially increase the company's attractiveness to investors.
The planned 5:1 share consolidation by Bright Minds Biosciences is a significant move aimed at regaining NASDAQ compliance. While this could potentially increase the company's attractiveness to investors, the impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100