Spire Global Effects 1-For-8 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Spire Global, Inc. (NYSE:SPIR) has announced a 1-for-8 reverse stock split of its Class A and Class B common stock, effective on August 31, 2023. The reverse stock split will reduce the number of outstanding shares and is intended to increase the per share closing price to meet the minimum average closing price requirement for listing on the New York Stock Exchange.
August 30, 2023 | 8:12 pm
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Spire Global's 1-for-8 reverse stock split will reduce the number of outstanding shares and is aimed at increasing the per share closing price. This could potentially make the stock more attractive to investors.
The reverse stock split will reduce the number of outstanding shares, which could potentially increase the per share price. This is often done to meet exchange listing requirements, and can make the stock more attractive to investors by giving the appearance of a higher value per share. However, the actual value of the company does not change, and the impact on the stock price can be unpredictable.
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