T2 Biosystems Announces 1-For-100 Reverse Stock Split, Effective Today
Portfolio Pulse from Benzinga Newsdesk
T2 Biosystems, Inc. (NASDAQ:TTOO) has announced a 1-for-100 reverse stock split, effective October 12, 2023. The split is intended to bring the company into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq Capital Market. The company's common stock will begin trading on a split-adjusted basis on October 13, 2023 under the existing trading symbol, 'TTOO.'
October 12, 2023 | 1:12 pm
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NEUTRAL IMPACT
T2 Biosystems' reverse stock split could potentially increase the per-share price, making it more attractive to investors. However, it does not change the company's overall market value.
A reverse stock split reduces the number of shares outstanding, which can increase the per-share price. However, it does not change the company's overall market value. The impact on T2 Biosystems' stock price will depend on market reaction to the split.
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RELEVANCE 100