Helius Medical Technologies Announces 1-For-50 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Helius Medical Technologies, Inc. (NASDAQ:HSDT) has announced a 1-for-50 reverse split of its Class A common stock, effective at 5:00 pm Eastern time today. The reverse split will reduce the number of shares of common stock outstanding and issuable upon the conversion of the Company's outstanding stock options and warrants in proportion to the ratio of the reverse split. The number of authorized shares of the Company's common stock will remain at 150 million, while the number of outstanding shares will be reduced from approximately 28.30 million to approximately 0.57 million.
August 16, 2023 | 1:06 pm
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Helius Medical Technologies' 1-for-50 reverse stock split will significantly reduce the number of outstanding shares from 28.30 million to approximately 0.57 million. This action could potentially increase the stock's price in the short term.
Reverse stock splits reduce the number of shares outstanding, which can lead to an increase in the stock price. However, the company's fundamentals remain the same, and the long-term impact will depend on the company's future performance.
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