Heliogen Announces 1-For-35 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Heliogen, Inc. (NYSE:HLGN), a provider of AI-enabled solar energy technology, has announced a 1-for-35 reverse stock split of its common stock. The split is expected to be effective at 5:00 p.m., Eastern Time, on August 31, 2023. Post-split, the common stock will continue trading on the NYSE under the symbol 'HLGN', but with a new CUSIP number: 42329E204.
August 25, 2023 | 8:05 pm
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Heliogen's 1-for-35 reverse stock split could potentially increase the per-share price, making the stock more attractive to institutional investors. However, the total market capitalization remains unchanged.
A reverse stock split reduces the number of shares outstanding, which can increase the per-share price and potentially make the stock more attractive to institutional investors. However, it's important to note that a reverse stock split does not change a company's overall market value.
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