Cara Therapeutics Announces Effective Date of 1-for-12 Reverse Stock Split
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Cara Therapeutics announced a 1-for-12 reverse stock split effective December 30, 2024, reducing its authorized shares from 200 million to approximately 16.67 million.
December 27, 2024 | 12:15 pm
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Cara Therapeutics is implementing a 1-for-12 reverse stock split, effective December 30, 2024, which will reduce the number of outstanding shares and authorized shares significantly.
The reverse stock split will consolidate shares, potentially increasing the stock price per share but not affecting the overall market capitalization. This action is often used to meet listing requirements or improve the perception of the stock. The reduction in authorized shares aligns with the split, maintaining proportional ownership.
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