SMX Announces August 21, 2023 As Effective Date Of 1-For-22 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
SMX (Security Matters) Public Limited Company has announced that the previously approved 1-for-22 reverse stock split will take effect on August 21, 2023. The split will reduce the number of outstanding ordinary shares from approximately 48.8 million to approximately 2.2 million. The purpose of the split is to increase the per share trading price of the company's common stock, which is expected to satisfy the minimum bid price requirement for continued listing on NASDAQ.
August 18, 2023 | 4:51 pm
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SMX's 1-for-22 reverse stock split will reduce the number of outstanding shares, potentially increasing the per share trading price. This could satisfy NASDAQ's minimum bid price requirement for continued listing.
The reverse stock split will reduce the number of SMX's outstanding shares, which could increase the per share trading price. This is expected to satisfy NASDAQ's minimum bid price requirement for continued listing, which could positively impact the stock's short-term performance.
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