Smart for Life Announces 1-For-3 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Smart for Life, Inc. (NASDAQ:SMFL) has announced a 1-for-3 reverse stock split of its common stock and authorized stock, effective on August 2, 2023. The reverse split is intended to maintain the company's NASDAQ listing compliance and make the bid price more attractive to investors. It is also part of a strategic plan to support future acquisition financings. The company aims to achieve $100 million in annualized revenues and sustained profitability.
August 04, 2023 | 9:36 am
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Smart for Life's reverse stock split is aimed at maintaining NASDAQ compliance and attracting investors. This could potentially lead to increased investor interest and stock price stability.
Reverse stock splits are often used by companies to maintain compliance with exchange listing requirements and to make their stock more attractive to investors by increasing the per-share price. While this doesn't change the company's overall market value, it could potentially lead to increased investor interest and stock price stability.
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