UTime Limited Announces 1-For-25 Reverse Share Split, To Be Effective On Or Around The Open Of Trading On September 11, 2024
Portfolio Pulse from Benzinga Newsdesk
UTime Limited (NASDAQ:WTO) announced a 1-for-25 reverse share split effective around September 11, 2024, to regain compliance with Nasdaq's minimum bid price requirement.
September 09, 2024 | 3:01 pm
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UTime Limited is implementing a 1-for-25 reverse share split to regain compliance with Nasdaq's minimum bid price requirement. This move is aimed at boosting the share price to meet the $1.00 threshold.
The reverse share split is a strategic move to increase the share price and maintain Nasdaq listing, which is crucial for investor confidence and liquidity. This action is likely to have a positive short-term impact on the stock price as it addresses compliance issues.
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