Rubico Inc (RUBI). announced that its board of directors has determined to effect a 1-for-10 reverse stock split of the company’s issued common shares, par value $0.01, effective at the opening of trading on April 9. The purpose of the reverse stock split is to increase the market price of the company’s common stock. The company believes that the reverse stock split will increase the market price for its common stock and allow it to maintain compliance with Nasdaq’s continued listing requirements.
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