Katapult Board Approves 1-For-25 Reverse Stock Split Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Katapult's board has approved a 1-for-25 reverse stock split of its common stock. The decision was approved by the company's stockholders at the Annual Meeting of Stockholders held virtually on June 6, 2023. The reverse stock split will become effective at 5:01 p.m. Eastern Time on July 27, 2023.
July 11, 2023 | 8:48 pm
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Katapult's reverse stock split may lead to a temporary increase in stock price due to reduced supply. However, the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in the stock price due to reduced supply. However, the long-term impact on the stock price will depend on the company's financial performance and market conditions.
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