Workhorse Group Stockholders Approve Proposal Of A Reverse Stock Split Of Outstanding Shares By A Ratio Between 1-For-10 And 1-For-20, At Any Time Prior To August 30, 2024
Portfolio Pulse from Benzinga Newsdesk
Workhorse Group Inc. (NASDAQ:WKHS) stockholders approved a proposal for a reverse stock split of outstanding shares by a ratio between 1-for-10 and 1-for-20, to be executed before August 30, 2024. This move aims to comply with Nasdaq Listing Rules. Additionally, stockholders voted on the re-election of board members and the issuance of shares underlying convertible notes and warrants.
May 14, 2024 | 9:25 pm
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Workhorse Group's approval for a reverse stock split aims to ensure compliance with Nasdaq Listing Rules, potentially affecting its stock liquidity and market perception.
Reverse stock splits often aim to boost a stock's price to meet exchange listing requirements, which can affect investor perception and stock liquidity. While it may improve compliance with Nasdaq rules, the impact on the stock's price and investor sentiment can be mixed, depending on how the market interprets the company's financial health and future prospects.
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