RYVYL Announces 1-For-10 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
RYVYL Inc. has announced a 1-for-10 reverse stock split of its common stock, which is expected to become effective on September 6, 2023. The move aims to increase the market price per share to maintain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market and to make investments in the company more attractive. Post-split, the number of outstanding shares will reduce from approximately 52.4 million to 5.24 million.
September 06, 2023 | 5:22 pm
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RYVYL's reverse stock split is expected to increase the market price per share, making the company's stock more attractive to investors. The number of outstanding shares will reduce significantly.
The reverse stock split will increase the price per share, potentially making the stock more attractive to investors. It also helps the company maintain its Nasdaq listing by meeting the $1.00 minimum bid price requirement. However, the reduction in the number of outstanding shares could lead to increased volatility.
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