Vaccinex, Inc. Announces 1-For-15 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Vaccinex, Inc. (NASDAQ:VCNX) has announced a 1-for-15 reverse stock split of its issued common stock, effective from September 25, 2023. The move is aimed at regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Capital Market. The company's shares will continue to trade under the symbol 'VCNX'. The reverse stock split will not alter any stockholder's percentage ownership interest in the company's equity, except for the rounding up of fractional shares to whole shares.
September 22, 2023 | 8:33 pm
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Vaccinex's 1-for-15 reverse stock split is aimed at regaining compliance with Nasdaq's minimum bid price requirement. This could potentially increase the stock's attractiveness to investors.
The reverse stock split will not change the company's market capitalization, but it could make the stock more attractive to investors by increasing the per-share price. However, the impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100