Virpax Pharmaceuticals Says It Will Announce Reverse Stock Split Ratio Between 1-To-2 To 1-To-20, The Anticipated Effective Date To Be Disclosed At Later Time
Portfolio Pulse from Benzinga Newsdesk
Virpax Pharmaceuticals announced plans for a reverse stock split with a ratio range between 1-to-2 and 1-to-20. The effective date of the split will be disclosed at a later time.
December 29, 2023 | 12:36 pm
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Virpax Pharmaceuticals is preparing for a reverse stock split, which could affect the stock price in the short term. The ratio will be between 1-to-2 and 1-to-20, with the effective date yet to be announced.
Reverse stock splits often indicate that a company is trying to boost its share price to meet exchange listing requirements or to improve perceptions of its stock. However, they can also signal underlying issues and may lead to negative investor sentiment in the short term. The wide range of the split ratio suggests uncertainty, which could further impact investor confidence.
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