Soligenix Intends To Effect Reverse Stock Split Of Common Stock At Ratio Of 1 Post-Split Share For Every 16 Pre-Split Shares
Portfolio Pulse from Benzinga Newsdesk
Soligenix plans to implement a reverse stock split at a ratio of 1 post-split share for every 16 pre-split shares. The stock will continue trading on Nasdaq under the symbol SNGX and will begin trading on a split-adjusted basis on June 6, 2024.
May 31, 2024 | 11:32 am
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Soligenix is enacting a 1-for-16 reverse stock split, which will take effect on June 6, 2024. The stock will continue to trade on Nasdaq under the symbol SNGX.
Reverse stock splits are often implemented to meet exchange listing requirements or to improve the stock's marketability. While this action does not change the company's market capitalization, it can affect investor perception and trading behavior. The neutral score reflects the uncertainty in short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100