Brenmiller Energy Ltd. Announces Expected Implementation Of 1-For-10 Reverse Share Split
Portfolio Pulse from Benzinga Newsdesk
Brenmiller Energy Ltd. (BNRG) announced a 1-for-10 reverse share split to be implemented after market close on December 1, 2023. Shares will trade on a post-split basis from December 4, 2023. Shareholders approved the split and an increase of share capital by 100,000,000 shares, with a post-split total of 15,000,000 shares. No fractional shares will be issued, with rounding to the nearest whole share.
November 30, 2023 | 1:07 pm
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Brenmiller Energy's reverse stock split and share capital increase could lead to a temporary increase in stock price due to perceived higher value per share, but may also indicate underlying issues.
Reverse stock splits often aim to boost the stock price by reducing the number of shares and increasing the price per share, which can attract investors. However, they can also be seen as a sign that a company is trying to meet listing requirements or mask financial troubles, which could lead to negative perceptions. The increase in share capital suggests potential for future growth or financing activities.
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