SOBRsafe To Proceed With A 1-For-110 Reverse Stock Split, Will Begin Trading On A Post-Split Basis At The Market Open On October 2, 2024
Portfolio Pulse from Benzinga Newsdesk
SOBR Safe, Inc. (NASDAQ:SOBR) will implement a 1-for-110 reverse stock split on October 2, 2024, to increase its share price and comply with Nasdaq's listing requirements. The stock will trade under the same symbol 'SOBR' with a new CUSIP number.
September 30, 2024 | 3:09 pm
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SOBR Safe, Inc. is executing a 1-for-110 reverse stock split to increase its share price and maintain Nasdaq listing compliance. The split will be effective on October 2, 2024.
The reverse stock split is intended to increase the per share market price, which is crucial for maintaining compliance with Nasdaq's minimum bid price requirement. This action is likely to have a positive short-term impact on the stock price as it addresses listing compliance issues.
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