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Why Opendoor Technologies Stock Swooned in June
The Motley Fool· 2025-07-02 06:11
Core Viewpoint - Opendoor Technologies experienced a significant decline in stock value, losing over 18% in June, primarily due to a reverse stock split announcement and an analyst downgrade [1][7]. Group 1: Reverse Stock Split Announcement - On June 6, Opendoor filed initial regulatory paperwork for a reverse stock split, intending to hold a special meeting for investor voting [3]. - The proposed reverse split ratio is between 1-for-10 and 1-for-50, aimed at supporting long-term shareholder value and preserving its Nasdaq listing [4][5]. Group 2: Analyst Downgrade - Analyst Andrew Boone from Citizens JMP downgraded Opendoor's stock from "market outperform" to "market perform," indicating a hold recommendation [7]. - Boone's downgrade is based on the observation that Opendoor is functioning more as a backup option for home sellers rather than a primary sales method, alongside concerns about the company's high debt levels [8]. Group 3: Business Model Vulnerability - Opendoor's business model, which involves buying and renovating homes to sell for profit, is particularly vulnerable to downturns in the housing market [6]. - The company's performance may improve with the introduction of Key Connections, a program designed to connect partner real estate agents with sellers [8].
Channel Therapeutics Announces Reverse Common Stock Split in Conjunction with the Close of the Merger with Pelthos Therapeutics and Concurrent $50.1 Million Private Placement
Globenewswire· 2025-06-27 13:15
Core Viewpoint - Channel Therapeutics Corporation announced a 10-for-one reverse stock split to increase the market price per share and meet NYSE American listing requirements in connection with a merger and capital raise of approximately $50 million [1][2][11] Group 1: Reverse Stock Split Details - The reverse stock split will be effective before market open on July 1, 2025, with trading on a split-adjusted basis starting July 2, 2025, under the new name "Pelthos Therapeutics Inc." [2] - The reverse stock split will convert every 10 shares of common stock into one share, reducing the number of outstanding shares from approximately 6,485,007 to about 648,501 shares [3] - Stockholders' percentage ownership will remain unchanged, and no fractional shares will be issued; fractional shares will be rounded up [4] Group 2: Company Information and Future Plans - Channel Therapeutics is focused on developing non-opioid, non-addictive therapeutics for pain relief, targeting the sodium ion-channel NaV1.7 for various pain types [7] - The trading symbol for the common stock will remain "CHRO" until the completion of the proposed transactions, after which it will change to "PTHS" [5] - Additional information regarding the reverse stock split and proposed transactions can be found in the Company's filings with the SEC [6][8]
Indaptus Therapeutics Announces Reverse Stock Split
GlobeNewswire News Room· 2025-06-25 11:00
Core Points - Indaptus Therapeutics, Inc. has announced a one-for-twenty-eight reverse stock split of its common stock, effective after trading closes on June 26, 2025 [1] - The reverse stock split aims to increase the per share price and bid price to regain compliance with Nasdaq listing requirements and attract institutional investors [1] - Following the split, the number of outstanding shares will decrease from approximately 16 million to about 572 thousand [3] Stockholder Impact - Every 28 shares will be converted into one share, with adjustments made to the exercise price and number of shares for outstanding options and warrants [2] - No fractional shares will be issued; instead, stockholders will receive cash payments for any fractional shares based on the adjusted closing price on June 26, 2025 [3] - Registered stockholders in book-entry form do not need to take action, while those with physical certificates will receive instructions for exchanging them [4] Additional Information - More details about the reverse stock split can be found in the definitive proxy statement filed with the SEC on April 28, 2025 [5]
Cellectar Biosciences Announces One-for-Thirty Reverse Stock Split
GlobeNewswire News Room· 2025-06-18 20:30
Core Viewpoint - Cellectar Biosciences, Inc. announced a one-for-thirty reverse stock split effective June 24, 2025, aimed at consolidating shares to potentially enhance stock performance and meet listing requirements on Nasdaq [1][2]. Company Overview - Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on developing drugs for cancer treatment, utilizing its proprietary Phospholipid Drug Conjugate™ (PDC) delivery platform [7]. Reverse Stock Split Details - The reverse stock split was approved by stockholders on June 13, 2025, reducing the number of shares from approximately 54.36 million to about 1.81 million [2]. - Each stockholder's percentage ownership will remain unchanged, except for fractional shares, which will be compensated in cash [3]. - The reverse stock split will proportionately affect the number of shares available under equity incentive plans and adjust the terms of outstanding stock options and warrants accordingly [4]. Administrative Aspects - Equiniti Trust Company, LLC will act as the transfer agent for the reverse stock split, managing the issuance of post-split shares without requiring action from stockholders [5]. - Additional information regarding the reverse stock split is available in the company's definitive proxy statement filed with the SEC [6]. Product Pipeline - Cellectar's product pipeline includes iopofosine I 131, which has received Breakthrough Therapy Designation from the FDA, and other programs targeting various solid tumors [8][10]. - The company is also developing CLR 121225 and CLR 121125, targeting significant unmet needs in cancer treatment [8][9].
X @Investopedia
Investopedia· 2025-06-14 04:00
A reverse stock split consolidates the number of existing shares of corporate stock into fewer—and proportionally more valuable—shares. https://t.co/MSmqms8udw ...
KULR to Consolidate Shares as Part of Broader Market Positioning Strategy
GlobeNewswire· 2025-06-13 21:00
Core Points - KULR Technology Group, Inc. will implement a 1-for-8 reverse stock split effective June 23, 2025, to optimize market dynamics and broaden investor appeal [1][2][3] - The reverse stock split will reduce the number of outstanding shares from approximately 300 million to less than 40 million [4] Company Strategy - The reverse stock split aims to position KULR for broader institutional participation and enhance long-term shareholder value, particularly in light of the upcoming Russell 3000 Index reconstitution [3] - The company believes that a higher share price will facilitate inclusion in institutional portfolios and trading platforms with minimum price thresholds [3] Stockholder Impact - The reverse stock split will not change the par value of KULR's common stock, which remains at $0.0001 per share, and will not alter any stockholder's percentage interest in the company's equity, except for fractional shares [3] - Fractional shares will not be issued; instead, stockholders will receive additional shares to round up to a full share [3] Company Overview - KULR Technology Group is a Bitcoin First Company specializing in energy storage solutions for space, aerospace, and defense, leveraging in-house battery design and production capabilities [6] - Since late 2024, KULR has included bitcoin as a primary asset in its treasury program, committing to allocate up to 90% of its cash for bitcoin acquisition [6]
Sensei Biotherapeutics Announces 1-for-20 Reverse Stock Split
Globenewswire· 2025-06-13 11:30
Core Viewpoint - Sensei Biotherapeutics, Inc. is implementing a 1-for-20 reverse stock split to comply with Nasdaq Capital Market's minimum bid price requirement, effective June 16, 2025 [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of issued and outstanding shares from approximately 25.2 million to about 1.3 million [3]. - The authorized shares will decrease from 250 million to 12.5 million [3]. - Fractional shares will not be issued; instead, stockholders entitled to fractional shares will receive a cash payment [4]. Group 2: Trading Information - The common stock will begin trading on a split-adjusted basis on June 17, 2025, under the existing trading symbol "SNSE" [2]. - Equiniti Trust Company, LLC will act as the exchange agent and transfer agent for the reverse stock split [5]. Group 3: Company Overview - Sensei Biotherapeutics focuses on developing next-generation therapeutics for cancer patients through its TMAb™ platform [6]. - The lead product candidate, solnerstotug, is designed to block the VISTA checkpoint selectively within the tumor microenvironment [6].
FibroGen Announces 1-for-25 Reverse Stock Split
GlobeNewswire News Room· 2025-06-12 20:02
Core Viewpoint - FibroGen, Inc. will implement a 1-for-25 reverse stock split to increase the per-share market price and regain compliance with Nasdaq listing requirements [2][3]. Group 1: Reverse Stock Split Details - The reverse stock split will be effective at 5:00 p.m. Eastern Time on June 16, 2025, with trading on a split-adjusted basis starting June 17, 2025 [1]. - The number of issued and outstanding shares will decrease from approximately 101.1 million to about 4.0 million shares [3]. - Stockholders will receive cash payments for any fractional shares instead of receiving fractional shares [3]. Group 2: Approval and Purpose - The reverse stock split was approved by stockholders at the 2025 Annual Meeting held on June 4, 2025 [2]. - The primary goal of the reverse stock split is to increase the market price of FibroGen's common stock to meet Nasdaq's minimum bid price requirement [2]. Group 3: Company Overview - FibroGen is a biopharmaceutical company focused on developing novel therapies for cancer and anemia [5]. - Roxadustat is approved in multiple regions for treating anemia in chronic kidney disease patients [5]. - The company is also developing FG-3246, an antibody-drug conjugate for metastatic castration-resistant prostate cancer [5].
Glucotrack Announces Reverse Stock Split Shareholder Approved Action Meets NASDAQ Panel Hearing Listing Requirements
Globenewswire· 2025-06-12 13:05
1-for-60 reverse stock split to become effective as of the opening of trading on June 16, 2025 Rutherford, NJ, June 12, 2025 (GLOBE NEWSWIRE) -- Glucotrack, Inc. (Nasdaq: GCTK) (“Glucotrack” or the “Company”), a medical technology company focused on the design, development, and commercialization of novel technologies for people with diabetes, today announced that it will effect a 1-for-60 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock par value $0.001 per share (t ...
AIM ImmunoTech Announces 1-for-100 Reverse Stock Split
GlobeNewswire News Room· 2025-06-11 20:15
Group 1 - AIM ImmunoTech Inc. announced a reverse stock split at a ratio of 1-for-100, effective June 12, 2025 [1] - The primary goal of the reverse stock split is to increase the per-share market price to regain compliance with NYSE American's Listing Qualifications [2] - Stockholders approved the reverse stock split at a Special Meeting on April 30, 2025, and will receive cash for any fractional shares post-split [3] Group 2 - AIM ImmunoTech Inc. focuses on the research and development of therapeutics for cancers, immune disorders, and viral diseases, including COVID-19 [4] - The company's lead product is Ampligen® (rintatolimod), an investigational drug with broad-spectrum activity in clinical trials [4]