TOP Ships Plans 1-For-12 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
TOP Ships Inc. has announced a 1-for-12 reverse stock split, which is expected to take effect from the opening of trading on Friday, September 29, 2023. The company's common stock will begin trading on a split-adjusted basis from this date.
September 28, 2023 | 12:02 pm
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NEUTRAL IMPACT
TOP Ships Inc.'s 1-for-12 reverse stock split may lead to a temporary increase in stock price due to reduced supply. However, the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in the stock price due to reduced supply. However, the long-term impact on the stock price will depend on the company's financial performance and market conditions.
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IMPORTANCE 80
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