Synaptogenix Acquires 25% Stake In Cannasoul
Portfolio Pulse from Benzinga Newsdesk
Synaptogenix has acquired a 25% stake in Cannasoul, as reported in its latest 10-K filing. As of December 31, 2023, Synaptogenix had a cash balance of $28.7 million. The company also underwent a recent reverse split, resulting in approximately 1,085,333 outstanding shares.
April 09, 2024 | 1:18 pm
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POSITIVE IMPACT
Synaptogenix's acquisition of a 25% stake in Cannasoul, alongside its financial health as indicated by a $28.7 million cash balance and a recent reverse split, could influence investor perception positively.
The acquisition of a stake in Cannasoul indicates strategic growth and diversification for Synaptogenix, which could be viewed positively by investors. The company's solid cash balance provides financial stability, and the reverse split may be seen as a move to improve stock marketability and compliance with exchange listing requirements. These factors combined suggest a potential positive short-term impact on SNPX's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90