Avalon GloboCare Announces 1-For-15 Reverse Stock Split, Will Begin Trading On A Split-Adjusted Basis When The Market Opens On October 28, 2024
Portfolio Pulse from Benzinga Newsdesk
Avalon GloboCare Corp. (NASDAQ:ALBT) announced a 1-for-15 reverse stock split effective October 28, 2024, to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The reverse split will reduce outstanding shares from 16 million to 1.1 million.
October 24, 2024 | 1:14 pm
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Avalon GloboCare is implementing a 1-for-15 reverse stock split to comply with Nasdaq's minimum bid price requirement. This will significantly reduce the number of outstanding shares.
The reverse stock split is a strategic move to increase the share price and comply with Nasdaq's listing requirements. This could positively impact the stock price in the short term as it addresses compliance issues and reduces the number of shares, potentially increasing the value per share.
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