Nuwellis To Effect 1-For-35 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Nuwellis, Inc. (NUWE) has announced a 1-for-35 reverse stock split, which will consolidate every 35 shares of its common stock into one share. This move is aimed at regaining compliance with the Nasdaq's minimum bid price requirement.
June 26, 2024 | 12:46 pm
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Nuwellis, Inc. (NUWE) has announced a 1-for-35 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. This action will consolidate every 35 shares of its common stock into one share.
The reverse stock split is a strategic move to meet Nasdaq's listing requirements. While it does not change the company's market capitalization, it may affect investor perception and trading activity in the short term.
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