Assure Holdings announces 18-for-1 reverse stock split

Assure Holdings announced that it will effect a reverse stock split of its shares of common stock at a ratio of 18 for 1 that will become effective on July 9. Assure’s common stock is expected to begin trading on the Nasdaq on a split-adjusted basis when the market opens on July 9, meaning that each 18 pre-split shares will represent one post-split share and the share price is expected to increase mechanically in proportion to the 18:1 ratio. Assure’s common stock will continue to trade under its existing symbol “IONM“. The reverse stock split is primarily intended to bring the company into compliance with the minimum bid price requirement for maintaining the listing of its common stock on the Nasdaq and to make the bid price more attractive to investors, the company said.