Cingulate Announces 1-For-20 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Cingulate Inc. announced a 1-for-20 reverse stock split effective November 30, 2023. The split will adjust outstanding shares and securities but won't change shareholder equity percentages, except for rounding fractional shares to whole. The Board had the discretion to choose the ratio, which will not alter the par value or authorized shares. The CUSIP number for the Common Stock will change to 17248W204.
November 28, 2023 | 2:26 pm
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Cingulate Inc. is undergoing a 1-for-20 reverse stock split, which will consolidate shares and potentially increase the stock price due to a reduced number of shares but will not affect the ownership percentage of existing shareholders.
Reverse stock splits often aim to boost the stock price by reducing the number of shares outstanding, which can make the stock more appealing to certain investors. However, the impact on the stock price can be neutral in the short term as the market adjusts to the new share structure. The split does not fundamentally change the company's valuation or market capitalization.
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