Aclarion, a healthcare technology company specializing in diagnostic solutions for chronic low back pain, has announced a reverse stock split designed to maintain its Nasdaq listing status. The company will implement a 1-for-335 reverse stock split effective before market open on Thursday, January 30, 2025.
The strategic move aims to increase the company's per-share stock price to meet Nasdaq's Minimum Bid Price Rule, which requires shares to trade above $1.00. By consolidating every 335 existing shares into a single share, Aclarion expects to reduce its outstanding shares from approximately 169.4 million to around 500,000.
Stockholders approved the reverse stock split amendment on December 31, 2024, with the Board of Directors subsequently setting the specific ratio. The split will apply to outstanding common stock, warrants, stock options, and restricted stock units, with conversion and exercise prices adjusted proportionately.
No fractional shares will be issued, meaning stockholders with fewer than 335 shares will receive one whole share. Brokerage account holders will see automatic adjustments, while those with physical stock certificates will receive transmission instructions from Vstock Transfer.
This corporate action underscores Aclarion's commitment to maintaining its Nasdaq listing and providing shareholders with a potentially more stable investment vehicle. The reverse stock split represents a common financial strategy for companies seeking to improve market perception and meet exchange listing requirements.
