Oncocyte Announces 1-For-20 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Oncocyte Corporation (OCX) has announced a 1-for-20 reverse stock split of its common stock, effective from July 24, 2023. The move is part of the company's plan to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Stock Market. The reverse stock split will reduce the number of outstanding shares to approximately 8,241,054.
July 24, 2023 | 5:37 pm
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Oncocyte's 1-for-20 reverse stock split is aimed at regaining compliance with Nasdaq's minimum bid price requirement. This will reduce the number of outstanding shares to approximately 8,241,054.
The reverse stock split will reduce the number of outstanding shares, which could potentially increase the stock's price per share and help the company regain compliance with Nasdaq's minimum bid price requirement. However, the impact on the stock price in the short term is uncertain as it depends on market reaction to this move.
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