Synaptogenix Regains Compliance With Nasdaq Minimum Bid Price Requirement For Continued Listing
Portfolio Pulse from Benzinga Newsdesk
Synaptogenix, Inc. (NASDAQ:SNPX) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market. This follows a 1-for-25 reverse stock split conducted on April 4, 2024, aimed at increasing the stock's trading price above the $1.00 threshold. The company had previously been notified of non-compliance due to its stock price falling below $1.00 for 30 consecutive business days.
April 24, 2024 | 1:17 pm
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Synaptogenix successfully executed a 1-for-25 reverse stock split to meet Nasdaq's minimum bid price requirement, ensuring its continued listing on The Nasdaq Capital Market.
The successful reverse stock split directly addresses the compliance issue with Nasdaq's minimum bid price requirement, likely leading to a positive short-term impact on investor confidence and the stock's market perception. This strategic move not only ensures the company's continued listing but may also improve its attractiveness to investors looking for compliance stability in their investments.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100