Benson Hill Announces 1-for-35 Reverse Stock Split Effective Today
Portfolio Pulse from Benzinga Newsdesk
Benson Hill has announced a 1-for-35 reverse stock split effective today. Trading on the NYSE will reflect the split-adjusted basis starting July 19, 2024. Shares will continue to trade under the symbol 'BHIL' with a new CUSIP number, and publicly traded warrants will trade under the symbol 'BHILW'.
July 18, 2024 | 7:01 pm
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Benson Hill has announced a 1-for-35 reverse stock split, which will be effective today. Trading on the NYSE will reflect the split-adjusted basis starting July 19, 2024. Shares will continue to trade under the symbol 'BHIL' with a new CUSIP number.
A reverse stock split often aims to increase the stock price by reducing the number of shares outstanding. This can be seen as a move to meet listing requirements or to attract institutional investors. However, it does not change the company's market capitalization. The neutral score reflects the uncertainty in market reaction to such corporate actions.
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