Longeveron Board Approves 1-for-10 Reverse Split Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Longeveron's Board has approved a 1-for-10 reverse split of its Class A common stock, effective March 26, 2024, at 11:59 p.m. Eastern Time. The stock will trade on a split-adjusted basis under the ticker symbol 'LGVN' on The Nasdaq Capital Market starting March 27, 2024.
March 19, 2024 | 8:02 pm
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Longeveron's 1-for-10 reverse stock split of Class A shares will take effect on March 26, 2024, with split-adjusted trading starting March 27, 2024.
Reverse stock splits often aim to boost the stock's market price and comply with exchange listing requirements. While it doesn't fundamentally alter the company's value, it may affect investor perception and stock liquidity. The immediate market reaction can be neutral to slightly negative due to mixed investor interpretations of the split's rationale.
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