Biomerica Announces Reverse Stock Split

Core Viewpoint - Biomerica, Inc. will implement a 1-for-8 reverse stock split to increase the bid price of its common stock and regain compliance with Nasdaq's minimum bid price requirement [2][3]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 12:01 a.m. Eastern time on April 21, 2025, with trading on a split-adjusted basis starting the same day [1]. - The number of shares outstanding will decrease from approximately 20,366,095 shares to about 2,545,762 shares, while the number of authorized shares will remain unchanged [3]. - Stockholders will automatically have fractional shares rounded up to the next whole share, and adjustments will be made to equity awards and option exercise prices accordingly [3][4]. Group 2: Compliance and Authorization - The reverse stock split was authorized by Biomerica's stockholders during the 2024 Annual Meeting held on December 13, 2024, with the final ratio determined by the Board of Directors [2]. - The company aims to enhance its stock price to meet Nasdaq's listing requirements, which is critical for its continued presence on the exchange [2]. Group 3: Company Overview - Biomerica, Inc. is a global biomedical technology company focused on developing advanced diagnostic and therapeutic products for medical conditions, particularly gastrointestinal and inflammatory diseases [6]. - The company markets products designed to improve health outcomes while reducing healthcare costs, with a strong emphasis on point-of-care testing [6].