Aclarion Implements 1-for-370 Reverse Stock Split to Maintain Nasdaq Listing
TL;DR
Aclarion, Inc. will complete a 1-for-370 reverse stock split of its common stock, increasing per share price.
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Aclarion, Inc. has announced a 1-for-370 reverse stock split of its common stock, effective January 29, 2025, aimed at maintaining its Nasdaq listing and improving its stock price. The company's stockholders approved this strategic financial maneuver on December 31, 2024, with the Board of Directors finalizing the specific split ratio.
The primary motivation behind the reverse stock split is to meet Nasdaq's continued listing standards, specifically the Minimum Bid Price Rule requiring shares to trade above $1.00. By consolidating every 370 existing shares into a single share, Aclarion expects to increase its per-share market value and ensure continued trading on the Nasdaq exchange.
The split will not alter the company's authorized share count but will significantly reduce outstanding shares from approximately 185 million to around 500,000. Stockholders with less than 370 shares will receive one whole share, and all outstanding warrants, stock options, and restricted stock units will be proportionally adjusted.
Shareholders holding shares through brokerage accounts will see automatic adjustments reflecting the reverse stock split. Those with physical stock certificates will receive detailed instructions from Vstock Transfer, the company's transfer agent, for exchanging their shares.
This financial restructuring underscores Aclarion's commitment to maintaining its public market presence and creating shareholder value in the competitive healthcare technology sector.
Curated from NewMediaWire
