Aeglea BioTherapeutics Announces 1-For-25 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE) has announced a 1-for-25 reverse stock split of all outstanding shares of its common stock. The move is intended to help the company meet minimum Nasdaq listing price per share requirements. The split will not alter any stockholder's percentage interest in equity, except for those who would own a fractional share post-split. Post-split, the number of authorized shares of common stock will be reduced from 500 million to 20 million.
September 07, 2023 | 12:48 pm
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Aeglea BioTherapeutics' reverse stock split could potentially increase the per-share price, making it more attractive to institutional investors. However, it could also indicate underlying issues with the company's performance.
A reverse stock split reduces the number of shares in circulation, which can increase the per-share price and make the stock more attractive to institutional investors. However, it's often a strategy used by companies struggling to meet exchange listing requirements, which could indicate underlying issues with the company's performance.
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