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Optinose to effect 1-for-15 reverse stock split for Nasdaq compliance (NASDAQ:OPTN)
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- Pharmaceutical company Optinose (NASDAQ:OPTN) announced on Thursday a 1-for-15 reverse stock split, effective 5:00 PM ET on December 30.
- The share consolidation is intended to enable Optinose to regain compliance with the $1.00 minimum closing bid price requirement for continued listing on Nasdaq.
- The shares will trade on a split-adjusted basis under a new CUSIP number 68404V209.
- The company's shareholders approved the reverse stock split at a special meeting of stockholders held on December 23.
- The reverse stock split will reduce the shares issued and outstanding from 150.83M to ~10.06M.
- Source: Press Release
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