GRI Bio (GRI) announced that the board of directors of the company approved a 1-for-28 reverse stock split of the company’s common stock. The reverse split was approved by the stockholders of the company at a special meeting of the company held on January 15. The reverse split will legally take effect at 4:01 p.m. Eastern Time, on January 23. The reverse split is intended to increase the per share trading price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GRI:
- GRI Bio Regains Conditional Compliance With Nasdaq Listing Requirements
- GRI Bio Shareholders Authorize Reverse Stock Split Plan
- GRI Bio Expands At-The-Market Equity Offering Capacity
- GRI Bio Highlights Positive Phase 2a Data in IPF
- GRI Bio announces data from Phase 2a study in Idiopathic Pulmonary Fibrosis