SenesTech Announces 1-For-12 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
SenesTech, Inc. (NASDAQ:SNES) announced a 1-for-12 reverse stock split effective November 16, 2023, after market close. The stock will trade on a split-adjusted basis starting November 17, 2023. The split was approved by stockholders and will reduce the number of issued shares from 5,899,060 to approximately 491,589. Adjustments will be made to equity awards and warrants, with fractional shares rounded up or down depending on how they are held.

November 15, 2023 | 2:41 pm
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NEUTRAL IMPACT
SenesTech's 1-for-12 reverse stock split will reduce total shares and may impact the stock price due to potential changes in market perception and liquidity. The split is intended to manage the share count and could be viewed as an attempt to meet Nasdaq's minimum bid price requirement.
Reverse stock splits often aim to boost the stock price by reducing the number of shares outstanding, which can lead to increased investor interest. However, the market can also view such actions negatively if perceived as a measure to avoid delisting. The short-term impact on SNES's stock price could be neutral to positive, depending on investor perception. The high relevance score reflects the direct impact of the news on the company, while the importance score is significant due to the potential implications for market perception and liquidity. The confidence level is high, given the clear details provided in the announcement.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100