NLS Pharmaceutics Ltd. Announces Expected Implementation Of 1-For-40 Reverse Share Split
Portfolio Pulse from Benzinga Newsdesk
NLS Pharmaceutics Ltd. (NASDAQ:NLSP) is implementing a 1-for-40 reverse share split effective September 27, 2024. This will reduce the number of outstanding shares from 46,880,000 to approximately 1,172,000. The split will not affect shareholder ownership percentages, except for fractional shares.
September 25, 2024 | 12:30 pm
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NLS Pharmaceutics is implementing a 1-for-40 reverse share split, reducing outstanding shares significantly. This move is likely to impact the stock price due to the change in share structure.
The reverse share split will reduce the number of shares, which can lead to a change in stock price due to perceived value changes. However, the split does not affect the company's fundamentals or shareholder ownership percentages.
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