Iveda Solutions Announces 1-For-8 Reverse Stock Split To Be Effective September 17, 2024; Each 8 Warrants Will Be Entitled To Acquire 1 Share Of Common Stock At A Revised Purchase Price Per Share Of $34.00 ($4.25 Per Warrant) The Split Will Also Reduce The Number Of Common Stock From 37.5M Shares To 4,687,500 Shares
Portfolio Pulse from Benzinga Newsdesk
Iveda Solutions, Inc. (NASDAQ:IVDA) announced a 1-for-8 reverse stock split effective September 17, 2024, reducing its common stock from 37.5M to 4.6875M shares. The stock purchase warrants (NASDAQ:IVDAW) will be adjusted accordingly, with a revised purchase price of $34.00 per share.
September 13, 2024 | 12:08 pm
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NEUTRAL IMPACT
Iveda Solutions is implementing a 1-for-8 reverse stock split, reducing its common stock from 37.5M to 4.6875M shares. This action may affect stock liquidity and price.
The reverse stock split will consolidate shares, potentially increasing the stock price due to reduced share count. However, it may also affect liquidity and investor perception.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Iveda Solutions' warrants (IVDAW) will be adjusted due to the reverse stock split, with a new purchase price of $34.00 per share.
The adjustment in warrants reflects the reverse stock split, maintaining proportional value for warrant holders. This ensures alignment with the new share structure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80