Singular Genomics To Effect 1-For-30 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Singular Genomics Systems, Inc. (OMIC) has announced a 1-for-30 reverse stock split, which will reduce the number of outstanding shares and potentially increase the stock price per share. This move is often aimed at meeting minimum stock price requirements for continued listing on exchanges.
June 21, 2024 | 8:08 pm
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Singular Genomics Systems, Inc. (OMIC) has announced a 1-for-30 reverse stock split, which will reduce the number of outstanding shares and potentially increase the stock price per share. This move is often aimed at meeting minimum stock price requirements for continued listing on exchanges.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price per share. This is often done to meet minimum stock price requirements for exchange listings, which can be seen as a positive move to maintain the company's market presence.
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