Gaucho Group Holdings, Inc. Announces 1-For-10 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Gaucho Group Holdings, Inc. (NASDAQ:VINO) has announced a 1-for-10 reverse stock split of the company's common stock, effective from September 25, 2023. The move is primarily intended to bring the company into compliance with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock.
September 22, 2023 | 4:02 pm
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Gaucho Group Holdings' 1-for-10 reverse stock split is aimed at maintaining its Nasdaq listing by meeting the minimum bid price requirements. The split will not affect the number of authorized shares or the par value of the common stock.
The reverse stock split is a neutral event for the company as it does not affect the company's fundamentals. However, it is important as it is aimed at maintaining the company's listing on the Nasdaq. The split will reduce the number of shares outstanding, but will not affect the number of authorized shares or the par value of the common stock.
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