Cuentas announces 1-for-13 reverse stock split

Cuentas announced that the company’s Board of Directors has approved a reverse stock split of its shares of common stock at a ratio of 1 for 13. The Reverse Stock Split will become effective at 12:01 a.m. Eastern time on March 24, 2023 and the Company’s common stock will open for trading on The Nasdaq Capital Market on a post-split basis on March 24, 2023 under the Company’s existing trading symbol "CUEN". At such time, the Company’s common stock will also commence trading under a new CUSIP number 229794300. The company said, "We expect that the Reverse Stock Split will increase the market price per share of the Company’s common stock, bringing the Company into compliance with listing requirements for The Nasdaq Capital Market."