ZIVO Bioscience Announces 1-For-6 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Zivo Bioscience, Inc. (NASDAQ:ZIVO) has announced a 1-for-6 reverse stock split, effective at 5:00 p.m. ET on October 26, 2023. The reverse split will reduce the number of authorized shares from 150,000,000 to 25,000,000, with each stockholder's ownership percentage remaining unchanged. The move is part of Zivo's plan to regain compliance with Nasdaq's continued listing requirements.
October 26, 2023 | 12:37 pm
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Zivo Bioscience's 1-for-6 reverse stock split will reduce the number of authorized shares from 150,000,000 to 25,000,000. The move is aimed at regaining compliance with Nasdaq's listing requirements.
The reverse stock split will reduce the number of Zivo's shares, which could potentially make the stock more attractive to investors by increasing its price per share. However, the impact on the stock's price in the short term is uncertain as it will depend on market reaction to the news. The move is also aimed at regaining compliance with Nasdaq's listing requirements, which could be viewed positively by investors.
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