Express, Inc. Announces 1-For-20 Reverse Stock Split; Expected To Be Effected After Market Close On Or About August 30, 2023
Portfolio Pulse from Happy Mohamed
Express, Inc. has announced a 1-for-20 reverse stock split of its common stock, authorized by the Board of Directors. The split is expected to be effected after market close on August 30, 2023, with shares trading on a split-adjusted basis from August 31, 2023. The move aims to regain compliance with the NYSE's minimum price criteria for continued listing.
August 17, 2023 | 8:20 pm
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Express, Inc.'s 1-for-20 reverse stock split is expected to increase the per-share price, helping the company regain compliance with NYSE's minimum price criteria for continued listing.
The reverse stock split will reduce the number of shares outstanding, thereby increasing the per-share price. This is expected to help Express, Inc. regain compliance with the NYSE's minimum price criteria for continued listing, which could positively impact investor sentiment and the stock's price.
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