AgriFORCE Announces 1-For-50 Reverse Stock Split for Nasdaq Compliance
Portfolio Pulse from Benzinga Newsdesk
AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) has announced a 1-for-50 reverse stock split, approved by the company's board and shareholders. The move is aimed at complying with the Nasdaq Listing Rule 5550(a)(2) closing bid price requirement. The split will be effective from October 11, 2023.
October 10, 2023 | 5:04 pm
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AgriFORCE's reverse stock split could potentially increase the per-share price, making it more attractive to investors and helping it meet Nasdaq's listing requirements.
The reverse stock split will reduce the number of shares outstanding, which could increase the per-share price. This could make the stock more attractive to certain investors and help the company meet Nasdaq's listing requirements. However, the impact on the stock's price in the short term is uncertain as it will depend on market reaction.
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