KWESST Micro Systems Announces Proposed 10-For-1 Share Consolidation
Portfolio Pulse from Benzinga Newsdesk
KWESST Micro Systems Inc. plans a 10-for-1 share consolidation to meet NASDAQ's minimum bid price requirements. The consolidation is pending TSX Venture Exchange approval and will reduce the number of outstanding shares from 15,791,742 to approximately 1,579,174.
October 10, 2024 | 4:29 pm
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KWESST Micro Systems Inc. is implementing a 10-for-1 share consolidation to maintain compliance with NASDAQ's minimum bid price requirements. This move is pending approval from the TSX Venture Exchange.
The share consolidation is a strategic move to ensure compliance with NASDAQ's listing requirements, which is crucial for maintaining the company's market presence. However, the impact on the stock price is neutral in the short term as it primarily addresses compliance rather than operational performance.
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