Lipella Pharmaceuticals Announces 1-For-8 Reverse Stock Split, Will Begin Trading On A Split-Adjusted Basis When The Market Opens On November 8, 2024
Portfolio Pulse from Benzinga Newsdesk
Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) announced a 1-for-8 reverse stock split to comply with Nasdaq's minimum bid price requirement. The split will be effective on November 7, 2024, and trading on a split-adjusted basis will begin on November 8, 2024.
November 01, 2024 | 8:36 pm
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Lipella Pharmaceuticals is implementing a 1-for-8 reverse stock split to meet Nasdaq's minimum bid price requirement. This move is aimed at 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 minimum bid price requirement, which is crucial for maintaining its listing. While this does not change the company's fundamentals, it may affect investor perception and trading activity in the short term.
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