Yoshiharu To Conduct 1-For-10 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Yoshiharu Global Co. (NASDAQ:YOSH), a California-based Japanese ramen restaurant operator, announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's Minimum Bid Price Requirement. The split will be effective on November 27, 2023, with trading on a post-split basis starting November 28, 2023. The split was approved by stockholders and the Board, reducing Class A and Class B common stock to 1,194,000 and 100,000 shares respectively. Adjustments will be made to outstanding equity awards, warrants, and exercise prices. No fractional shares will be issued, and the authorized capital stock will remain unchanged.
November 24, 2023 | 1:33 pm
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Yoshiharu Global Co. is conducting a 1-for-10 reverse stock split to comply with Nasdaq's listing requirements. This action will reduce the number of outstanding shares and is expected to increase the stock price to meet the $1.00 minimum bid price requirement.
The reverse stock split is a strategic move to increase the per-share price of YOSH to comply with Nasdaq's listing requirements. Typically, such a split can lead to a short-term increase in stock price as the number of shares decreases, making each share more valuable. However, the long-term impact depends on the company's performance and market perception.
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