Novo Integrated Sciences Announces 1-For-10 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. The split is expected to become effective after the close of trading on November 6, 2023, and the stock will begin trading on a split-adjusted basis on November 7, 2023. The company believes this move will help attract a broader group of investors.
November 06, 2023 | 4:45 pm
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Novo Integrated Sciences' reverse stock split is aimed at regaining compliance with Nasdaq's minimum bid price requirement. This could potentially attract a broader group of investors.
The reverse stock split is a strategy to increase the stock's market price and regain compliance with Nasdaq's minimum bid price requirement. While it doesn't change the company's market capitalization, it could make the stock more attractive to a broader group of institutional and retail investors, potentially leading to increased demand.
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