Agenus Announces A 1-For-20 Reverse Stock Split Of Common Stock, Which Will Go Into Effect On April 12, 2024
Portfolio Pulse from Benzinga Newsdesk
Agenus Inc. (NASDAQ:AGEN) announced a 1-for-20 reverse stock split effective April 12, 2024, to increase its per share trading price for Nasdaq listing and Russell Indices inclusion. The split affects all shares uniformly, maintaining the same percentage interest for stockholders, except for fractional shares which will be compensated in cash.
April 05, 2024 | 8:33 pm
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Agenus Inc. announces a 1-for-20 reverse stock split to meet Nasdaq listing requirements and qualify for Russell Indices inclusion, effective April 12, 2024.
The reverse stock split is likely to have a positive short-term impact on AGEN's stock price as it aims to meet Nasdaq's minimum price requirement and qualify for inclusion in the Russell Indices. This move can be seen as a strategic effort to improve the company's market standing and attract more investors. However, the actual impact on the stock price will depend on market perception and the company's ongoing performance.
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