Nukkleus Announces 1-For-8 Reverse Stock Split Shares Will Begin Trading On A Split-Adjusted Basis On October 24, 2024
Portfolio Pulse from Benzinga Newsdesk
Nukkleus, Inc. (NASDAQ:NUKK) will implement a 1-for-8 reverse stock split effective October 24, 2024, to meet Nasdaq's $1.00 minimum bid price requirement. The stock will trade on a split-adjusted basis under the same symbol with a new CUSIP number.
October 22, 2024 | 12:17 pm
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Nukkleus is conducting a 1-for-8 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. This move is crucial for maintaining its listing on the Nasdaq Capital Market.
The reverse stock split is a strategic move to increase the stock price and meet Nasdaq's listing requirements. This could positively impact the stock price in the short term as it aims to regain compliance.
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