BioCardia Intends To Effect Reverse Stock Split Of Its Common Stock At Ratio Of 1 Post-Split Share For Every 15 Pre-Split Shares
Portfolio Pulse from Benzinga Newsdesk
BioCardia plans to implement a reverse stock split of its common stock at a ratio of 1 post-split share for every 15 pre-split shares. The reverse stock split will take effect at 12:01 a.m. Eastern Daylight Time on Thursday, May 30, 2024.
May 21, 2024 | 9:03 pm
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BioCardia is set to execute a 1-for-15 reverse stock split, effective May 30, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
A reverse stock split typically aims to increase the stock price by reducing the number of shares outstanding. This can make the stock more attractive to institutional investors and meet listing requirements. However, it does not change the company's market capitalization or fundamentals.
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