Reported Earlier, KORE Announces 1-for-5 Reverse Stock Split to Meet NYSE Listing Requirements
Portfolio Pulse from Benzinga Newsdesk
KORE Group Holdings, Inc. (NYSE:KORE) announced a 1-for-5 reverse stock split to meet NYSE listing requirements. The split will be effective on July 1, 2024, and aims to increase the per share market price. The stock will trade on a split-adjusted basis under the symbol 'KORE'.
June 24, 2024 | 7:26 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
KORE Group Holdings is implementing a 1-for-5 reverse stock split to meet NYSE listing requirements. This move is expected to increase the per share market price and ensure continued listing on the NYSE.
The reverse stock split is aimed at increasing the per share market price to meet NYSE's minimum price requirement, which is crucial for maintaining the listing. This is generally seen as a positive move to avoid delisting.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100