On October 25, VirnetX Filed A Certificate Of Amendment To The Co's Amended And Restated Certificate Of Incorporation With The Secretary Of State Of The State Of Delaware To Effect A 1-For-20 Reverse Stock Split, To Trade On Adjusted Basis On October 26
Portfolio Pulse from Benzinga Newsdesk
VirnetX Holding Corporation has filed a certificate of amendment to effect a 1-for-20 reverse stock split. The company's common stock will begin trading on a reverse-split-adjusted basis on the NYSE under the existing ticker symbol 'VHC' from October 26, 2023. The total number of authorized shares of common stock will remain unchanged at 100,000,000. Proportional adjustments will also be made to the number of shares of common stock issuable upon the exercise of the company's stock options, outstanding restricted stock units, and equity incentive plan.
October 26, 2023 | 6:58 pm
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NEUTRAL IMPACT
VirnetX's 1-for-20 reverse stock split could potentially increase the market price of its common stock. However, it may also dilute the value of existing shares. The impact on the company's stock options, outstanding restricted stock units, and equity incentive plan could also affect investor sentiment.
Reverse stock splits are typically used by companies to increase their share price and attract investors. However, they also dilute the value of existing shares, which could negatively impact investor sentiment. The impact on VirnetX's stock options, outstanding restricted stock units, and equity incentive plan could also affect investor sentiment, either positively or negatively, depending on how these adjustments are perceived.
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