Zomedica Announces 1-For-80 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Zomedica is seeking shareholder approval for an 80-1 reverse stock split at a Special Meeting on February 28, 2024. The company believes the reverse split will attract more investors, make shares eligible for stock indices like the Russell group, increase analyst coverage, and ensure NYSE listing compliance. Shareholders of record as of January 9, 2024, will be entitled to vote.
January 17, 2024 | 9:03 pm
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Zomedica plans an 80-1 reverse stock split to increase share price, attract investors, ensure NYSE compliance, and potentially join stock indices. Shareholders to vote on February 28, 2024.
Reverse stock splits often lead to a temporary increase in share price due to a perceived improvement in the company's financial health and compliance with exchange listing requirements. The potential for increased institutional investment and analyst coverage could also positively impact the stock price in the short term. However, the long-term impact will depend on the company's operational performance and market reception.
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