iSun, Inc. Announces Rescission of Reverse Stock Split; Says Reverse Stock Split That Was Previously Approved Will Not Be Implemented
Portfolio Pulse from Benzinga Newsdesk
iSun, Inc. (NASDAQ:ISUN) announced the rescission of the previously approved reverse stock split, citing the decision as beneficial for the company and its shareholders based on market conditions and financial performance outlook. CEO Jeff Peck emphasized the commitment to shareholder value, strategic initiatives, and long-term value delivery. The company's outstanding shares will remain unaffected, and iSun will continue focusing on its core business objectives.
April 25, 2024 | 7:41 pm
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iSun, Inc. has rescinded its previously approved reverse stock split, a move seen as positive for shareholder value and the company's strategic direction.
Rescinding a reverse stock split often signals confidence in the company's financial health and future prospects. It can be perceived positively by the market, as it avoids the dilution of shareholder value that can accompany reverse splits. This decision by iSun, Inc. reflects a strategic move to maintain shareholder trust and focus on long-term growth, potentially leading to a positive short-term impact on the stock price.
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