LQR Announces Proposed A 60-For-1 Reverse Split As Part of Nasdaq Compliance Plan
Portfolio Pulse from Benzinga Newsdesk
LQR House Inc. (NASDAQ:LQR) has announced a proposed 60-for-1 reverse stock split, subject to NASDAQ approval, to maintain NASDAQ compliance. The split will affect common stock and derivatives like options and warrants. No fractional shares will be issued, with fractions rounded down. The company is also continuing its repurchase program to buy back up to 2,000,000 shares, taking advantage of the current stock price discount.
November 21, 2023 | 3:09 pm
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LQR House Inc. is planning a 60-for-1 reverse stock split to maintain NASDAQ listing compliance and is actively repurchasing shares.
The reverse stock split is a move to comply with NASDAQ's listing requirements, which may be viewed neutrally as it does not fundamentally alter the company's value but adjusts the number of shares and price per share. The share repurchase program could indicate the company's confidence in its value, potentially offsetting the dilutive perception of the reverse split. However, the market's reaction to reverse splits can be unpredictable, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100