Neoleukin Therapeutics Plans For 1-For-4 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Neoleukin Therapeutics has announced a 1-for-4 reverse stock split, set to take effect at 12:02 a.m. Eastern Time on December 18, 2023. This action is typically taken by companies aiming to boost their stock price by reducing the number of shares outstanding, which may help them meet exchange listing requirements or appear more financially stable.
December 15, 2023 | 7:02 am
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Neoleukin Therapeutics' reverse stock split is likely to increase the stock price in the short term by reducing the number of shares available, which could make the stock more appealing to investors.
Reverse stock splits are often used by companies to increase their share price by reducing the total number of shares outstanding. This can make the stock more attractive to investors by making it appear more valuable on a per-share basis. Additionally, it can help the company meet minimum share price requirements for stock exchange listings. However, the long-term impact depends on the company's underlying financial health and market conditions.
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