DSS, Inc. Announces 1-For-20 Reverse Split As Part of NYSE American Compliance Plan
Portfolio Pulse from Benzinga Newsdesk
DSS, Inc. (NYSE: DSS) has announced a 1-for-20 reverse stock split effective January 4, 2024, to comply with NYSE American listing requirements. The split will trade on a post-split basis starting January 5, 2024. The reverse split aims to address the low share price issue and maintain the company's listing. All shareholders will be affected uniformly, and no fractional shares will be issued. Equiniti Trust Company, LLC will provide instructions for exchanging stock certificates.
December 22, 2023 | 9:32 pm
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DSS, Inc. is undergoing a 1-for-20 reverse stock split to comply with NYSE American listing requirements and address its low share price issue. The reverse split is set to be effective on January 4, 2024, with trading on a post-split basis beginning January 5, 2024.
Reverse stock splits are often used by companies to lift share prices to meet exchange listing requirements. While this does not fundamentally change the company's value, it can sometimes be viewed negatively by the market as it indicates the company has been under pricing pressure. However, in the short term, the impact is likely to be neutral as the split has been announced in advance and is intended to maintain the company's listing status.
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