Gaucho Group Holdings, Inc. Announces 1-For-10 Reverse Stock Split, Expected To Begin Trading On A Split-adjusted Basis When The Markets Open On May 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Gaucho Group Holdings, Inc. (NASDAQ:VINO) announced a 1-for-10 reverse stock split effective May 1, 2024, to comply with Nasdaq's minimum bid price requirements. The split-adjusted trading is set to begin on the same day under the symbol 'VINO'. This action will reclassify every 10 shares into one and adjust the exercise prices and number of shares underlying the company's outstanding equity awards and warrants. The reverse stock split aims to maintain the company's Nasdaq listing without affecting the number of authorized shares or the par value.
April 29, 2024 | 1:04 pm
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Gaucho Group Holdings, Inc. (VINO) is undergoing a 1-for-10 reverse stock split to comply with Nasdaq's minimum bid price requirements, effective May 1, 2024. The split aims to maintain its Nasdaq listing.
The reverse stock split is a strategic move to comply with Nasdaq's listing requirements, specifically the minimum bid price. While it directly impacts the stock's structure by consolidating shares, the immediate market reaction could be neutral as investors adjust to the new share structure. The long-term effect will depend on the company's performance and investor perception of the split's success in maintaining the listing and potentially improving stock marketability.
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