Traws Pharma Announces Special Shareholders Meeting Results; Board Subsequently Approved A 1-For-25 Reverse Stock Split, Expected To Begin Trading On A Split-Adjusted Basis On September 23, 2024
Portfolio Pulse from Benzinga Newsdesk
Traws Pharma announced the approval of a 1-for-25 reverse stock split, set to begin trading on a split-adjusted basis on September 23, 2024. The decision was made following a special shareholders meeting where all proposals were approved, including an increase in authorized shares and the issuance of shares upon conversion of preferred stock.
September 17, 2024 | 8:06 pm
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Traws Pharma's board approved a 1-for-25 reverse stock split, effective September 23, 2024. This move is part of a broader strategy to manage share structure and potentially increase the stock price.
The reverse stock split is likely to reduce the number of shares outstanding, which can lead to an increase in the stock price if the market perceives it positively. This action is often taken to meet listing requirements or to make the stock more attractive to investors.
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