Smith Micro Software (SMSI) has released an update.
A company is planning a reverse stock split, proposing an exchange ratio between 1-for-4 and 1-for-10, in an effort to meet Nasdaq’s minimum bid price requirements and enhance capital flexibility. Scheduled for a special stockholders’ meeting on April 1, 2024, the split aims to bolster market price per share, although its success isn’t guaranteed. The company’s board will decide the exact ratio post-approval and maintains the option to abandon the plan if deemed contrary to stockholder interests.
For further insights into SMSI stock, check out TipRanks’ Stock Analysis page.
