Safe & Green Holdings Corp Announces 1-For-20 Reverse Split Of The Company's Common Stock, Will Trade On A Post-Split Basis On Nasdaq Under The Existing Trading Symbol At The Market Open On May 2, 2024
Portfolio Pulse from Benzinga Newsdesk
Safe & Green Holdings Corp. (NASDAQ:SGBX) announced a 1-for-20 reverse stock split effective May 2, 2024, to meet Nasdaq's minimum bid price requirements and improve marketability. The split was approved by stockholders and aims to enhance the capital structure and tighten public float. No fractional shares will be issued; instead, cash payments will be made for fractional shares. Holdings will be adjusted electronically by Equiniti Trust Company LLC.
April 30, 2024 | 1:31 pm
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Safe & Green Holdings Corp. announces a 1-for-20 reverse stock split to meet Nasdaq's minimum bid price, aiming to enhance marketability and capital structure.
The reverse stock split is likely to have a positive short-term impact on SGBX's stock price by potentially increasing the market price per share, making it more attractive to investors and meeting Nasdaq's listing requirements. The company's optimistic outlook and intention to improve marketability and capital structure further support a positive view. However, the actual impact on the stock price will depend on market perception and broader market conditions.
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