SciSparc Announces Expected Implementation Of 1-For-26 Reverse Share Split
Portfolio Pulse from Benzinga Newsdesk
SciSparc Ltd. (NASDAQ:SPRC) has announced that its previously announced 1-for-26 reverse share split will be implemented after market close today. The company's shares will begin trading on a post-split basis on September 28, 2023, under the existing trading symbol 'SPRC'. The reverse split will adjust the number of issued and outstanding shares from approximately 13.5 million to approximately 521,090. No fractional shares will be issued as a result of the reverse split.
September 27, 2023 | 12:01 pm
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SciSparc's 1-for-26 reverse share split will significantly reduce the number of issued and outstanding shares. This could potentially increase the stock's price per share, but it may also deter small investors due to the higher price.
A reverse stock split reduces the number of shares outstanding, which can increase the stock's price per share. However, it can also deter small investors who may be priced out due to the higher price per share. The impact on SciSparc's stock price will depend on how the market reacts to the reverse split.
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