Smith Micro Announces 1-For-8 Reverse Stock Split In Effect April 11, 2024
Portfolio Pulse from Benzinga Newsdesk
Smith Micro Software, Inc. (NASDAQ:SMSI) announced a 1-for-8 reverse stock split effective April 11, 2024, to increase its per share trading price and regain compliance with Nasdaq's minimum bid price requirement. The reverse split will convert every eight shares into one and will not issue fractional shares, rounding them to the nearest whole number instead.

April 03, 2024 | 8:16 pm
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Smith Micro's 1-for-8 reverse stock split is set to increase its per share trading price to meet Nasdaq's minimum bid price requirement.
Reverse stock splits are often used by companies to increase their share price to comply with stock exchange listing requirements. In the short term, this can lead to increased investor confidence as the company meets regulatory standards. However, the long-term impact depends on the company's performance post-split. For SMSI, this move is likely to be viewed positively in the short term as it demonstrates the company's efforts to maintain its listing status.
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