AGAPE ATP Announces 1-For-20 Reverse Stock Split, Effective August 30; The Number Of Authorized Shares Of Agape Common Stock Will Be Reduced From 1B To 50M
Portfolio Pulse from Benzinga Newsdesk
AGAPE ATP Corporation (NASDAQ:ATPC) announced a 1-for-20 reverse stock split effective August 30, 2024, reducing authorized shares from 1 billion to 50 million. This move aims to increase the stock price to meet NASDAQ's listing standards.
August 28, 2024 | 1:47 pm
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AGAPE ATP Corporation is implementing a 1-for-20 reverse stock split to increase its stock price and comply with NASDAQ's listing standards. The number of authorized shares will be reduced significantly.
The reverse stock split is a strategic move to increase the stock price, which is crucial for maintaining NASDAQ listing. This action is likely to have a positive short-term impact on the stock price as it addresses compliance issues.
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