SCWorx Shareholders Overwhelmingly Approve 1-For-15 Reverse Stock Split At Annual Meeting
Portfolio Pulse from Benzinga Newsdesk
SCWorx Corp. (NASDAQ:WORX) has announced the successful conclusion of its 2023 Annual Meeting of Stockholders, where shareholders approved a 15-for-1 reverse stock split. The split will reduce the number of outstanding common stock from approximately 17.9 million shares to approximately 1.2 million shares. The split is expected to become effective at market open on October 11, 2023.
October 10, 2023 | 4:24 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
SCWorx Corp.'s shareholders have approved a 15-for-1 reverse stock split. This will reduce the number of outstanding shares from 17.9 million to 1.2 million, which could potentially increase the stock's price.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock's price. This is because the earnings per share (EPS) will increase as the number of shares decreases, making the stock more attractive to investors. However, the actual impact will depend on how the market reacts to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100