Danimer Scientific Announces Intention To Complete A 1-For-40 Reverse Stock Split, Expected To Begin Trading On A Split-Adjusted Basis On November 13, 2024
Portfolio Pulse from Benzinga Newsdesk
Danimer Scientific (NYSE:DNMR) announced a 1-for-40 reverse stock split, effective November 12, 2024, to comply with NYSE's minimum share price rule. Trading on a split-adjusted basis will begin November 13, 2024.
November 01, 2024 | 8:33 pm
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Danimer Scientific is executing a 1-for-40 reverse stock split to increase its share price and comply with NYSE's minimum share price rule. This action is expected to affect the stock's liquidity and market perception.
The reverse stock split is a strategic move to increase the stock price and maintain NYSE listing compliance. While it may improve the stock's market perception by increasing the price per share, it could also reduce liquidity due to fewer shares being available. The market's reaction will depend on investor sentiment towards the split and the company's future prospects.
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