Clever Leaves Announces 1-For-30 Reverse Stock Split To Aid Compliance With Nasdaq Listing Requirements
Portfolio Pulse from Benzinga Newsdesk
Clever Leaves has announced a 1-for-30 reverse stock split to comply with Nasdaq listing requirements. This move is aimed at increasing the per-share trading price to satisfy the $1.00 minimum bid price requirement.

August 24, 2023 | 12:07 pm
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Clever Leaves' 1-for-30 reverse stock split could potentially increase the per-share trading price, helping the company to meet Nasdaq's minimum bid price requirement.
The reverse stock split will reduce the number of shares outstanding, which could potentially increase the per-share price. This is crucial for Clever Leaves to maintain its Nasdaq listing, as it needs to meet the $1.00 minimum bid price requirement. However, the impact on the stock's value is uncertain as it depends on market reaction.
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