EBET Announces 1-For-30 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
EBET, Inc. has announced a 1-for-30 reverse stock split of its common stock, effective from September 29, 2023. The number of outstanding shares will be reduced from approximately 448.2 million to around 14.9 million. Adjustments will be made to the per share exercise price and the number of shares issuable upon the exercise or vesting of all outstanding stock options and warrants.
September 29, 2023 | 1:24 pm
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EBET's reverse stock split will reduce the number of outstanding shares from 448.2 million to 14.9 million. This could potentially increase the stock's price, but it may also deter small investors due to the higher price per share.
A reverse stock split reduces the number of shares outstanding, which can increase the stock's price as each share now represents a larger piece of the company. However, it can also deter small investors who may be priced out due to the higher price per share. The impact on EBET's stock price will depend on how the market reacts to this news.
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