Universe Pharmaceuticals INC Announces 6-For-1 Share Consolidation
Portfolio Pulse from Happy Mohamed
Universe Pharmaceuticals INC (NASDAQ:UPC) has announced a 6-for-1 share consolidation. The consolidation will be effective at 5:00 p.m. Cayman Islands time on July 27, 2023. Post-consolidation, the company's ordinary shares will trade on the Nasdaq Global Market under the same symbol 'UPC' but with a new CUSIP number. No fractional shares will be issued, and all fractional shares will be rounded up to the whole number.
July 27, 2023 | 2:16 pm
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Universe Pharmaceuticals' 6-for-1 share consolidation could lead to a temporary increase in stock price due to the perceived increase in value per share. However, the overall market cap remains the same.
Share consolidation often leads to a temporary increase in stock price due to the perceived increase in value per share. However, it's important to note that the overall market cap remains the same as the number of shares decreases while the price per share increases.
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